Danko: SNS to Propose Partial Repeal of Transaction Tax (2)

Bratislava, April 14 (TASR) - The coalition Slovak National Party (SNS) will submit a proposal to the May session of Parliament to abolish the transaction tax for sole traders and small entrepreneurs with an annual turnover of up to €100,000, SNS chair Andrej Danko announced in a video on social media on Monday. Danko added that SNS subsequently plans to negotiate with its coalition partners about abolishing the transaction tax entirely by December 31, 2025. "So far, we've negotiated with our coalition partners to submit a proposal jointly at this session that would help those most affected. As we didn't receive a response and cannot join forces with the opposition, we are submitting the proposal as a political party at the earliest opportunity that the law affords, for the session in May," Danko explained. The SNS chair added that if the coalition partners don't support the proposal, it's likely to reach its second reading as late as in September, and thus the transaction tax for sole traders and small businesses would then be abolished only as of October 30. According to Danko, a reserve of €485 million was created in this year's budget, which could be used to offset the abolition of the transaction tax for the selected entities. Danko emphasised that SNS is convinced that the transaction tax as a whole needs to be scrapped. "It is necessary to push first for the abolition of the transaction tax for small businesses with a turnover up to €100,000 and sole traders. And in the second step, when the state budget for 2026 is being prepared, I want to assure you on behalf of SNS that if we are involved, we'll demand the complete abolition of the transaction tax by the end of this year," added the SNS chair. Opposition party Freedom and Solidarity (SaS) promptly announced on social media that it will support Danko’s proposal for a partial repeal of the transaction tax in Parliament. "SaS supports the complete abolition of the transaction tax. Although Andrej Danko is proposing only a partial repeal, we'll support that as well. It will still help the economy. And the best thing for Slovakia would be if this led to the collapse of Fico’s government," said party chair Branislav Groehling. Another opposition party, the Christian Democratic Movement (KDH), also plans to support Danko’s proposal. According to KDH, the financial transaction tax significantly complicates business conditions for sole traders. “Those who didn’t have business accounts set up with banks had to go from bank to bank by the end of March to get them opened. It also caused uncertainty among ordinary citizens and employees, as the transaction tax gets passed on into the prices of goods and services. Cash payments might even lead to the government ultimately failing to collect the planned €500 million from the tax,” stated KDH, which called on the governing coalition to reconsider the entire transaction tax. mf/df