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Terno found a way to avoid the new levy on retailers

Retailer Terno RE (Martin Fedor) has changed its plan to do away with the Terno and Moja samoška brands. Initially, it had planned to rebrand all 110 stores as Kraj. Now, though, it will keep all three brands so as to avoid the new levy on retailers (2.5% of turnover). The levy only applies to retailers active in at least 15% of all Slovak districts. None of Terno RE’s brands meets this condition. For the same reason, the local retailer COOP Jednota won’t have to pay the levy. The levy will only apply to five foreign retailers: CBA, Billa, Kaufland, Lidl, and Tesco, plus local retailer Milk Agro.

In March, Terno RE opened its 8th Kraj store in Bratislava and another will open in April in Trnava. It wants to have 20 Kraj stores. It has spent €7m on Kraj store openings so far and will spend another €6m this year.

Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

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