Good news for banks today as MPs rejected the proposals of Robert Fico’s SMER-SD party to levy a special tax on banks, which would have deprived them of 1.35% of the volume of certain liabilities.
The proposal was opposition party SMER-SD’s alternative to the 1% hike in VAT from 19% to 20%, but it met with criticism from the Association of Slovak Banks and some analysts, because at the end of the day the money would come out of the pockets of bank clients.
Yesterday the Ministry of Finance pointed out that the proposal ignored pending discussions in the EU and that it was based on incorrect calculations. The Ministry also stated that the tax would have a negative impact on people and the economy in general.