The 20 percent VAT remains in Slovakia

The Slovak Parliament in Pozsony (Bratislava) approved the amendment the VAT law’s amendment.

According to the amendment the government does not need to decrease the currnet 20 percent VAT to 19 percent if the general government deficit declines below 3 percent.

The Slovak government does not expect to reduce the current 20 percent tax level, because one percentage point reduction would cause an about 200 million euros additional revenue loss to the budget. (Starovic Tibor, MTI)