Ministry of Finance

The need to consolidate public budgets is perhaps already evident, even to those political parties that have long perceived resources as limitless and freely available. Investors worldwide eagerly await opportunities to lend to debt-ridden Slovakia. Consolidation plans are beginning to emerge, the Financial Policy Institute at the Ministry of Finance has published the impact of austerity and tax measures on GDP.

The Slovak Ministry of Finance sent the entrepreneurs a special package this week. It contains as many as seven (!) new tax law amendments. The extraordinary content of the tax package is the reason for red alert among entrepreneurs. This attitude is the result of previous negative experiences.

The presidential project of the fiscal ordinance was supposed to improve this complex situation. The uncertainties in regulations were supposed to be interpreted in favour of the taxpayers. In other words, the responsibility for legal errors (bungles) would lie on the national state and not on physical persons.

In the last few years, the compound word “start-up” has established itself in the Slovak language and is successfully edging out the original term – “a beginning entrepreneur”. A start-up, a start-uper, the start-up scene, a start-up strategy, a start-up investment – the media are packed to the rafters with such collocations. This is not […]

Every one of us pays taxes daily and yet only a few could tell how much exactly they pay in taxes per month or per year. The Lithuanian Free Market Institute (LFMI) launched a new tax calculator “Moku mokesčius” (“I Pay the Taxes”), which not only allows Lithuanians to see how much they pay in taxes but also shows how their money is then spent.