Emission Allowances Tax Abolished

The 2011-12 emission allowances tax has been abolished by Parliament, only a week after it was  suspended by the Constitutional Court.

All advance payments of the tax will be refunded.

This has been achieved using an accelerated procedure to remove various references to the tax in legislation.

The proceedings challenging the constitutionality of the tax in the Constitutional Court will be stopped and the Slovak Republic avoids any possibility of having to pay damages had the Constitutional Court declared the tax to be unconstitutional.

This article was written for Law-Now, CMS Cameron McKenna's free online information service. To register for Law-Now, please go to www.law-now.com/law-now/mondaq