Kiss: Transaction Tax Fails to Deliver Promised Revenues and Harms Businesses

Bratislava, 4 August (TASR) - Instead of generating the promised revenue for the state budget, the transaction tax is destroying the business environment, creating unpredictable expenses, reducing the competitiveness of Slovak companies abroad, which then discourages foreign investors, opposition Progressive Slovakia (PS) MP Stefan Kiss stated on Monday. „It's now clear that the state has collected one-third less in transaction tax than Finance Minister Ladislav Kamenicky (Smer-SD) had anticipated. From the very beginning, we warned him that this stunt, with which he intends to secure his position at the helm of the Slovakia's central bank (NBS), would only cause chaos, shift the economy to cash transactions, and fail to save public finances. Everyone warned him, even Andrej Danko (Slovak National Party/SNS) understood it,“ Kiss noted. According to the opposition MP, Kamenicky should get started on real consolidation and cut back on the „luxuries“ of Slovak ministers. Kiss added that the finance minister doesn't know how to manage public finances and should resign immediately for Slovakia's sake. lin/mcs