Huliak Proposes Higher Taxes on Banks, Car Manufacturers, and Retail Chains

Bratislava, April 29 (TASR) - Revenue from the transaction tax in the state budget could be replaced by higher taxation of banks, car manufacturers, and retail chains, Tourism and Sport Minister Rudolf Huliak (Independent) said in a video sent to the media on Tuesday, adding that he intends to propose this solution at the next coalition council meeting. "In my opinion, as a former entrepreneur, this tax is truly a major burden on honest businesses. Since it apparently can't be abolished, let's look for financial resources elsewhere," said Huliak, pointing to the outflow of profits to foreign businesses. "This is where we should be looking for financial resources," Huliak added. According to him, companies should pay tax in the country where the revenue is generated and not transfer their profits to their country of origin. In addition to the opposition, some coalition representatives have also opposed the transaction tax, which is expected to bring around €700 million into the state budget. For example, Slovak National Party (SNS) leader Andrej Danko believes the tax should be scrapped entirely, but at the very least, he's calling for it to be amended so that freelancers and small businesses with an annual turnover of up to €100,000 are exempt. Premier Robert Fico, at a joint press conference with Finance Minister Ladislav Kamenicky (both Smer-SD) on Sunday (April 27), declared that the transaction tax can't currently be abolished. lin/mcs