PS to Propose Scrapping Transaction Tax Again, Calling It 'Nonsense'

        Bratislava, 6 May (TASR) - The opposition Progressive Slovakia (PS) party plans to resubmit a proposal for scrapping the transaction tax, which the party representatives described as "economic nonsense" that damages the Slovak economy, drives inflation and deters investors, MPs Michal Truban and Stefan Kiss (both PS) told a press conference on Wednesday.
        "We promised that PS would abolish the transaction tax. More and more coalition MPs and ministers are starting to realise what economic nonsense it is and they are talking about the need to scrap it themselves. Therefore, we must keep trying, because we never know what might happen," stated Truban.
        In terms of economic impacts, Truban pointed to a decline in economic growth to less than one percent and a slump in foreign investment. "In 2024, investments were at some €440 million, which is approximately two-thirds less," he stressed.
        The transaction tax also contributes to higher inflation, said Truban, adding that the revenues from the transaction tax were below expectations, at less than €380 million compared to the planned amount of €580 million.
        According to Kiss, the proposal to abolish the transaction tax is only the first step. "It only means returning back to the situation before April 2025 which, however, is not enough. We need many more measures to support the economy," he said.
        PS also criticised the government for a lack of reforms, as it has failed to provide solutions to support growth and instead increases the tax burden. "Money that could have ended up in Slovakia is going abroad," added Kiss.
        The party has also presented its own proposals to support entrepreneurs, such as simplifying the business environment, faster depreciation of investments, and reducing tax and social security burden.