Slovaks worked for the state this year for longer than a year ago. Tax Freedom Day, which expresses the overall level of income redistribution in the Slovak economy, moved to June 3 from June 1 last year. This follows an analysis of the Taxpayers’ Association of Slovakia and the F. A. Hayek Foundation. It means that until June 3, taxpayers transferred all their earnings to the state and at around 10:30 on Monday they began to work for themselves and their families.
”There are two reasons for this year’s deterioration. The first is slower growth of the economy and other key factor is the consolidation measures in the area of public finances adopted by the Government,” said Tomas Puchly, an analyst for the F. A. Hayek Foundation, adding that from every euro generated in our country this year, the state redistributes nearly 42 cents. Historically, the “earliest” Tax Freedom Day in Slovakia was in 2008, when citizens worked for the state until May 22.
