Slovakia reduced its taxes for entrepreneurs and for smaller companies. Those whose income doesn’t exceed €100,000 will pay 15 percent as opposed to 21 percent taxes. At the same time, Slovakia reduced VAT charges on certain food products from 20 to just 10 percent, a move that’s expected to reduce state takings from small companies by €65m. Novinky.cz writes that no similar moves are planned in the Czech Republic, though the Ministry of Finance has increased tariffs on alchohol and cigarettes along with lottery earnings of over CZK 1m.
