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Slovak President Vetoes Flat Tax

President Rudolf Schuster on 25 November vetoed a bill to introduce a flat 19 percent income and corporate tax from the beginning of next year, TASR reported.

Schuster said the bill violates the principle of fair taxation by unfairly benefiting those with monthly incomes of 25,000 crowns ($719) and over, as well as businesses.

Schuster said just 11 percent of taxpayers would benefit from the change, which might result in reduced domestic demand and higher unemployment.

The bill was approved by parliament in October.

Parliament can override the presidential veto with an absolute majority in the 150-strong parliament.

(RFE/RL 26.xi.03)

 
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