Tax reform proposed by Finance Minister Igor Matovič would cost €2.4bn annually
The tax reform proposed by Finance Minister Igor Matovič would cost €2.4bn annually. New social benefits for families will cost €1.1bn, personal income tax will be cut by €720m and corporate by €640m, calculated the Finance Ministry’s IFP institute. It could not calculate the impact on sole traders. The reform will thus reduce the risk of poverty across the board and hit public finances hard. Matovič wants to finance the reform by cuts in defense spending and public sector employment, a new millionaire tax, and higher taxation of sole traders and banks.
