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Saturday, December 2, 2023

Excise taxes on tobacco and alcohol will increase soon

The government of Robert Fico (Smer-SD) will increase consumption taxes on tobacco and alcohol from the beginning of next year. Ján Richter, head of the parliamentary club of the Smer-SD party, hinted at this in the O 5 minut 12 RTVS talk show. “I expect that at the December meeting, when the state budget will be adopted, there will be a group of laws that will define the answer to these questions before it is presented,” he said of the parliament proceedings. As he added, “pretty sure” among these proposals will be proposals to increase taxes on tobacco and alcohol. “We are not the first, almost every government quite naturally reaches into this portfolio,” he added. He assumes that the increase in taxes on tobacco and alcohol will already be reflected in the revenues of next year’s budget of public finances.

Robert Fico’s government wants to increase the tax burden on citizens. He plans to introduce greater progressivity in personal income taxation, adjust the child tax bonus, increase real estate taxation, as well as increase taxes on tobacco and alcohol. In the area of ​​personal income taxation, the government proposes to introduce higher progressivity by adjusting the tax base bands without a negative impact on low-income groups of the population, and wants to set a more socially just child tax bonus. The government will also propose to increase property taxation, taking into account the social standard of the inhabitants without a negative impact on low-income groups of the population. The cabinet wants to tax the owners of several properties intended for housing in the case of the second and other such properties to a greater extent. By increasing taxes on tobacco and alcohol, the government plans to fight negative externalities. He will also consider introducing a tax on sugary drinks. The cabinet also wants to increase the importance of environmental taxation.

The government program also talks about simplifying the payment of taxes and levies. The government plans to renew the reform intention of unifying the collection of taxes, duties and levies so that the place of their collection is the financial administration. One of the basic prerequisites of this reform is the introduction of the annual settlement of social contributions. In order to improve cash flows, develop business activities of reliable economic entities and increase the attractiveness of Slovakia for the realization of imports of goods from third countries, the government will consider the introduction of self-taxation when importing goods into the country. The government is also committed to eliminating legislative loopholes that enable aggressive tax planning and support harmful tax practices.

Don’t overlook

The same tax as on beer should be introduced on another alcoholic drink

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