Slovakia Tax Agency Announces Various Tax Measures

The Slovak Financial Administration Dec. 10 announced various tax measures under several laws, collectively known as the consolidation package. The announcement includes measures to: 1) introduce a basic VAT rate of 23 percent, and reduced rates of 19 percent and 5 percent; 2) increase the taxable income threshold of corporate income tax to 100,000 euros (US$105,159) from 60,000 euros (US$63,095); 3) reduce the tax rate to 10 percent from 15 percent regarding the tax base for taxpayers with taxable income not exceeding 100,000 euros per tax period; 4) introduce a new tax rate of 24 percent for taxable income exceeding ...