New taxes are introduced in Slovenia to finance the restoration of the country after devastating floods in August. Estimating losses of 10 billion euros, the government approved a bill that envisages the introduction of banks tax and an increase in corporate tax to ensure the financing of recovery projects.
According to the new legislation, which is expected for Parliament approval, a tax of 0.2% on total banking assets is introduced, which should lead to the receipt of about 100 million euros annually. In parallel, the government plans to raise a corporate tax rate from 19% to 22%, as well as use other sources of financing, such as the share of profit of the state holding company, budget funds and money from the EU.
The introduction of a new tax has become the object of stringent opposition by a business community, which is concerned about a possible determent in investment as a result of raising the rate. It should be noted that the European Central Bank has outrage, warning that bank tax can have a potentially negative impact on the banking sector and the economy as a whole.
