Tax Manifesto 2020 - set of recommendations for tax policy improvements
A joint coalition of 15 business associations led by AmCham & SAF (Slovak Association of Finance) prepared a set of recommendations for tax policy improvements. While Tax Manifesto is not supposed to replace a much needed tax policy reform, it offers proposals that can relatively quickly increase the competitiveness and attractiveness of the Slovak business environment.
Most of the recommendations can be implemented during the upcoming legislative changes and can possibly come into force during Q4 in order to help companies across various sectors survive the current economic recession.
The proposals are divided into 5 areas:
1. Substantial tax support for innovation and investment
2. Tax support for the recapitalization of companies
3. Realization of tax depreciation of property
4. Elimination of tax reasons for business reorganization
5. Elimination of comparative disadvantages of Slovakia in the field of VAT