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Slovenia Business Week no. 09/2005: CCIS Calls for Simple and Transparent Tax System

The management board of the Chamber of Commerce and Industry of Slovenia (CCIS) has called for a simpler and more transparent tax system in light of increasing tax competition in the EU, which the managers say is designed to attract fresh capital by creating a good competitive environment

The management board of the Chamber of Commerce and Industry of Slovenia (CCIS) has called for a simpler and more transparent tax system in light of increasing tax competition in the EU, which the managers say is designed to attract fresh capital by creating a good competitive environment.

EU countries are competing by lowering tax rates, handing out tax breaks, and by keeping the systems simple, transparent and stable. Yet tax reform in Slovenia did not take this course, CCIS president Jozko Cuk told a meeting of the management board on Thursday, 24 February.

The board members agreed that the new tax legislation is flawed, as it increases the burden on companies and reduces their competitive ability. They called for a comprehensive overhaul of the tax system to create a tax environment more conducive for business development.

The managers furthermore pointed out to unclarities in legislation, and criticised provisions on tax breaks for investment. Investors will think twice if they want to invest their money in such an environment, it was said, as tax breaks apply only for high-tech industries.

The businessmen also examined the Lisbon Strategy reform, concluding that the CCIS will utilise its mechanisms to make investment priorities contributing to the preparation of harmonised national development programmes in line with the revamped Lisbon Strategy.

The CCIS expects that the government will immediately enact all the agreed changes for efficient implementation of development policies.

Source: Slovene Press Agency STA

Author: STA