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Slovenia Business Week no. 39: Finance Ministry Sends Tax Changes to Government

The ministry proposed changes to the income tax act, corporate income tax act, tax procedure act, value added tax act as well as drafted a new bill which would eliminate the payroll tax

The Finance Ministry confirmed that they sent proposals to amend five laws related to the tax system to competent government bodies. The government is expected to discuss them at next  cabinet session, the ministry said in Ljubljana on Friday, 23 September. The ministry proposed changes to the income tax act, corporate income tax act, tax procedure act, value added tax act as well as drafted a new bill which would eliminate the payroll tax.

The ministry confirmed that it had reviewed the tax reform package proposed by the government working group for taxes headed by economist Marko Kranjec. Two members of the group, however, have already expressed great dissatisfaction with the ministry's cherry-picking of the proposals.

Prime Minister Janez Jansa said that the government had already made the necessary budget calculations to account for the gradual phasing out of the payroll tax.

The changes to the value added tax will allow small companies to pay VAT only on the basis of a settled invoice instead of at the time of issuing it.

Source: Slovene Press Agency STA

Author: STA