The tax on financial transactions cannot be scrapped even partially due to consolidation, and exempting sole traders and small entrepreneurs from this tax would mean a significant loss of state budget revenues of up to €200 million, said Finance Minister Ladislav Kamenicky (Smer-SD) on Tuesday in response to criticism of the tax and calls for it to be modified.
"I want to call on the coalition partners, both in Parliament and in the government - let's not help Progressive Slovakia get into power, let's not help progressivism," stressed the Finance Minister.
Kamenicky underlined that the financial transaction tax contributes towards financial consolidation to the tune of €700 million. "I want the Slovak Republic to have better quality, better public finances than we inherited. We're trying to improve them. It's painful, but we've reached a time that really doesn't favour the economy, including from the external environment," he said.
"I'll do my utmost to improve public finances so that the Slovak Republic can finance itself on acceptable terms, so that we don't fall into the hands of creditors," he added.
The coalition Slovak National Party (SNS) insists on exempting sole traders and small companies with a turnover of up to €100,000 from the transaction tax, SNS chairman Andrej Danko said at a press conference on Tuesday. He added that SNS also believes that the entire tax should be scrapped.
"After the introduction of the transaction tax, we repeatedly tried to convince the Finance Ministry to exempt sole traders and small entrepreneurs with a turnover of up to €100,000," said Danko, adding that the transaction tax disrupts the business of this group of people and causes them difficulties. SNS has submitted a proposal for the May House session to include this exemption to the tax.
According to Danko, if the Finance Minister agreed to scrap the transaction tax for sole traders and small companies, the state budget would lose several tens of millions of euros. He added that the government shouldn't lack this money, as Slovakia had a reserve of €400 million when drawing up the state budget for this year.
According to Health Minister Kamil Sasko (Hlas-SD) the transaction tax is causing serious complications in the health-care sector.
"A political discussion about what comes next is now underway. Hlas-SD is ready to engage in that discussion. I'm ready especially when it concerns health care," said Sasko.
Source: TASR
