Slovakia Cuts Corporate Taxes for Smaller Firms to 15 percent

18. septembra 2019 12:00
Bratislava, September 18 (TASR) - Corporate taxes in Slovakia for companies with an annual turnover of below €100,000 will be cut from 21 percent to 15 percent as of 2020, Parliament decided in a vote on Wednesday. As many as 131 lawmakers among the 143 present in the chamber voted for the legislation. The co-ruling Slovak National Party (SNS), which initiated the bill, stated that the move was made possible by an increase in the volume of taxes collected and Slovakia's GDP growth. At the same time, SNS believes that the lower tax rate will stimulate new investment and "generate domestic innovation potential". bub/df
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