Slovak News - Oct 95 - Slovak Government Information

Privatization

Slovak Prime Minister Vladimir Meeiar expects the privatization process to be finished within 8 months.

VAT Act

The Slovak Government approved an amendment to the VAT Law and has now given it to the Parliament for approval. The amendment will lower the general VAT rate by 2% from 25% to 23%. Some goods and services which are subject to 6% VAT will be subject to 23 % rate. One of the most important changes is that all tourism and accommodation services are transferred from the group liable to 25% VAT to that which is liable to 6% VAT. This proposed amendment should be discussed by Parliament in the middle of November.

Real Estate Tax Bill

The cabinet approved a Real Estate Tax Bill that will improve the competency of local administration. Moreover, it introduces new coefficients used not only for calculating real estate tax in relation to land used for construction but also for computing taxes on other types of land.