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Parliament Approves Cutting Diesel Tax by 11.3 cents per Litre
Wednesday 20 January 2010 Zoom in | Print page
Bratislava, January 20 (TASR) - A Finance Ministry proposal to cut excise-tax on diesel - by 11.3 cents per litre rather than the originally planned 9 cents - was approved by the Slovak Parliament on Thursday. As many as 128 out of 150 MPs voted for this move.
In effect, on refilling stations, prices of diesel should go down by 13 cents, including another nearly 2-cent cut - caused by the impacts on VAT.
The measure was fast-tracked in the House and will become effective as early as February 1 of this year.
"The main reason to produce the proposal was to eliminate high diesel prices for households and the business sector and thus sustain price levels of transported goods and services," wrote the ministry.
The ministry expects the legislation to bring down diesel purchases in neighbouring countries and boost the competitiveness of Slovakia's goods-transport sector. The price of diesel should therefore be lower than in Hungary and the Czech Republic.
The Finance Ministry projects that the measure will cut state-budget revenues by between €60-102 million this year, by €70-117 million in 2011, and by €85-132 million in 2012.
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