The Slovenia Times

Upper chamber vetoes corporation tax hike

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The bill will now be sent back to the lower chamber of parliament for a revote.

The veto was proposed by the interest group of employers, who argued that the hike, to 19% from 17%, was unjust and placed additional burdens on business.

Representatives of business on the National Council argued that the corporation tax hike should be scrapped in favour of structural reform.

Councillor Alojz Kovšca for example stressed that the government was increasingly squeezing companies instead of reducing taxation as it had promised.

Union representatives, who did not endorse the veto, argued that the corporation tax should be even higher.

"The effective rate is one of the lowest in the EU, [the increase] will not be the end of the world," said Branimir Štrukelj, the head of the teachers' union SVIZ.

Meanwhile, the proposed veto on the personal income tax, which would rise take-home pay for the best paid staff while keeping employer costs level, was not endorsed.

The corporate income tax act amendments will now have to be endorsed by an absolute majority of MPs in the lower chamber to enter into force.

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