SHE
News
From Slovakia
Where is the fastest way to get millions into the state coffers? The solution could be a new tax on bank transfers, which would cover more than a third of the planned consolidation of public finances next year.
Source:
Freepik.com/Dragana_Gordic
ATM withdrawal tax
Instead of an unpopular increase in value added tax, the government apparently wants to come up with something new. The Ministry of Finance is considering a new tax on cashless transactions, following the example of Hungary, which may be part of a 1.4 billion consolidation package to reduce the budget deficit.
Ordinary transfers from account to account, sending paychecks, paying invoices, card payments and withdrawals from ATMs should also be taxed.
Diary E this was confirmed by two people familiar with the proposal, who did not want to be named.“The Ministry of Finance would not like to support any speculation on this topic at this time,” replied the ministry.
According to estimates, this tax could bring in around 550 million euros per year, which is similar to an increase in VAT by one percentage point. Most of the revenue from this tax would come from businesses that would pay the tax on payroll.
Although the exact mechanism of the new tax is not yet known, estimates indicate that the bank would bear the tax for ATM withdrawals of up to 360 euros, but only twice a month.
Following the example of Hungary?
The tax on card payments should be “minimal”, which would benefit households. The first 50 euros from the bank transfer would be tax-free.
In Hungary, this tax was introduced in 2013 and from August it will increase to 0.45 percent for regular transactions and 0.9 percent for cash withdrawals from ATMs. It is expected to bring in more than 1.5 billion euros next year.
Source: Dnes24.sk
Source: www.dnes24.sk
