PS: Transaction Tax Lacks Clear Rules, Causes Uncertainty and Confusion

Bratislava, July 1 (TASR) – The transaction tax still lacks clear rules, causing confusion and uncertainty among businesses, according to Darina Luscikova of Progressive Slovakia (PS). Luscikova stated on Tuesday that banks are applying different procedures and deadlines, leaving some entrepreneurs unsure - even three months after the tax was introduced - about when and how much money will be deducted from their accounts. „The obligation to maintain vague reserves in accounts during a time of expensive capital effectively acts as a punitive tax — one that hits small and medium-sized businesses the hardest. Thousands of companies lack even basic clarity on the amount they owe, which prevents them from planning cash flow and threatens their liquidity,” Luscikova emphasized. She criticized the Finance Ministry for imposing additional bureaucracy and uncertainty on businesses instead of setting clear and predictable rules. Luscikova added that the planned coalition amendment to the legislation in September will only deepen the uncertainty, as it will force banks to once again rewrite their systems — a change that will inevitably be passed on to customers through increased fees. „Instead of endless revisions, we are calling for the only sensible solution — the immediate abolition of this ill-conceived transaction tax. We stand with Slovak entrepreneurs and will not allow them to become hostages of dysfunctional and unfair legislation,” she concluded. mf