Danko: Kamenicky Not Convinced It's Necessary to Amend Transaction Tax (2)

Bratislava, May 26 (TASR) - Finance Minister Ladislav Kamenicky (Smer-SD) is not convinced that the transaction tax should be changed, coalition's SNS leader Andrej Danko announced after his Monday meeting with Kamenicky regarding SNS’s proposal to exempt sole traders and companies with a turnover of up to €100,000 from the transaction tax. „I am seeking the finance minister’s support; I want to convince Robert Fico (Smer-SD) that sole traders and small businesses should not have to pay this transaction tax. At the same time, we are giving the Finance Ministry the room to improve this law,” said Danko, noting that Kamenicky needs time to discuss the proposal. According to him, if the proposal passes its first reading, it will not wreck the state budget. Danko insists that the transaction tax is ineffective and should be abolished, as it harms businesses in Slovakia. He also rejected claims that SNS’s proposal to amend the transaction tax violates the coalition agreement, stating that it was submitted independently and without support from any opposition party. The SNS head added that he had also discussed the proposal with the leader of junior coalition Voice-SD party, Matus Sutaj Estok, and Voice-SD is inclined to support the amendment. However, he has not yet received a final position from Smer-SD, the senior coalition partner. If the transaction tax were to be abolished, Danko said he could envision measures to offset the loss of money it currently brings to the state coffers, such as streamlining VAT collection, making property taxes more targeted, or adjusting state expenditures. “We have measures to offset [the loss of transaction tax income], and the state budget certainly wouldn't fall apart if the transaction tax disappeared. That is not the case. The state has money, it’s just being lost in many untargeted areas,” Danko concluded. In addition to the discussion on the SNS proposal to exempt small businesses and sole traders from the transaction tax, Danko spoke with Kamenicky about creating a working group to draft next year’s state budget, which would take into account the specific needs of various ministries. Danko raised objections, for example, to measures in the healthcare sector or the additional financing of local authorities, and advocated instead loosening the rules to give municipalities a free hand on imposing property taxes on, for instance, shopping centres. The Finance Ministry declared that the discussion with the SNS chairman was constructive and to the point, and that the issue of the financial transaction tax remains open, with further expert and political negotiations to follow. The ministry also reiterated that the necessary consolidation of public finances and the drafting of the state budget for 2026 remains key priorities. mf