Slovenia crisis tax up to 5%

Banking

The government in Slovenia proposes a crisis tax of between 0.5% and 5% on all gross incomes, to be effective as of July, while it will take a final decision on a rise in VAT by the end of the year, the Slovenia Times reported Wednesday. However, Economy Minister Stanko Stepišnik said a raise in the standard VAT rate was certain. Stepišnik, addressing reporters explained that the crisis tax, one of the proposals in the draft Stability Program, would be progressive and would affect all incomes, including pensions. Gross pay amounting to half of the average pay will be taxed at the rate of 0.5%, average gross earnings at 1%, double the average pay at 1.5%, triple the average pay 2% and those exceeding that amount at the rate of 5%. Average gross pay in Slovenia was €1,497.55 in February. The minister said that a final decision on VAT would be taken by the end of the year when it was clearer how successful Slovenia was in bringing down the deficit. The government has not yet decided whether it will increase the reduced VAT rate, but an increase in the standard rate as of 2014 is a fact, the minister said.

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