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'Not the best time' to change taxes
Lowering taxes is not the best solution to help Slovakian businesses through the global economic downturn, it has been claimed.
Vladimir Masar, chairman of Deloitte in Slovakia, told the Slovak Spectator that "in times of crisis it might not be the best time to experiment with taxes".
Additionally, he said that Slovakia''s generally low taxation rates mean that any cuts would only be able to be between one to three percentage points, "which would not be such a decisive change".
"Cutting taxes from about 40 per cent to 19 per cent was a different story," he added.
In addition to his role at Deloitte, Mr Masar was the governor of the National Bank of Slovakia for most of the 1990s, from July 1993 - just a few months after the breakup of Czechoslovakia into Slovakia and the Czech Republic - to July 1999.
In his current position as chairman at Deloitte his remit is mainly marketplace-based.
