BRATISLAVA, October 18, (WEBNOVINY)- The opposition SMER-SD proposes to impose a new duty on Slovakia’s banking houses, which should pay a compulsory levy to state coffers as of next year. The party plans to push through in parliament next month a special levy for banks at 1.35 percent, which would be calculated from a portion of liabilities of a concrete bank. SMER-SD Chairman Robert Fico believes hat the state might acquire an additional EUR 186.1 million next year, which represents approximately the same amount as the government of Iveta Radicova plans to gain by hiking the value-added tax rate to 20 percent. “We are offering an equal alternative to the government,” stated Fico.
The SMER-proposed special levy on bank houses and financial institutions operating in Slovakia, the measure, which is to consolidate public finances should be the income of the state budget until the general government deficit sinks below 3 percent of GDP. Later, funds collected from banking houses should be part of state financial assets while they would be used only in the event of risky situations, explained Fico.
SMER-SD parliamentary deputy Peter Kazimir said that the state has enough possibilities, through its Finance Ministry to prevent banks from including new compulsory levies in higher prices for services
SMER-SD leader Fico is offering this solution as a more suitable alternative to the austerity package announced by the Cabinet, which, in his words, will burden the most vulnerable and poorest citizens. The SMER-offered solution could replace „all those absurdities“ [Cabinet’s austerity package — editor’s note] that will raise prices, said Fico.
The Ministry of Finance however is not pondering introduction of a special levy on banks and financial institutions. Its State Secretary Branislav Durajka claims that a special taxation of some sector within the economy not based on economic reasons is unhealthy. He added that the need to bolster revenue to cover public spending is not a sufficient reason for special taxes in any sector.
SITA