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Slovakia: A story of reforms. Ivan Mikloš. Structural challenges. Fiscal sustainability Corruption and justice reform Job creation Business environment Education and innovative society Accessible and effective health-care. Public sector reforms. Public finance reform Tax reform
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Slovakia: A story of reforms Ivan Mikloš
Structural challenges • Fiscal sustainability • Corruption and justice reform • Job creation • Business environment • Education and innovative society • Accessible and effective health-care
Public sector reforms • Public finance reform • Tax reform • Pension reform • Social benefit reform • Labor market reform • Healthcare reform • Fiscal decentralization • Regional education reform (partially)
Foreign currency rating (S&P) A+ A A- BBB+ BBB BBB- BB+
International integration Slovakia – NATO, EU, OECD, € Czech Republic – NATO, EU, OECD Poland – NATO, EU, OECD Hungary – NATO, EU, OECD Slovenia – NATO, EU, €, OECD Latvia – NATO, EU Lithuania – NATO, EU Estonia – NATO, EU, OECD, € Romania – NATO, EU Bulgaria – NATO, EU Croatia – NATO Albania – NATO
GG expenditures – international comparison (% of GDP) Source: Eurostat
GG expenditures – development in Slovakia (% of GDP) Source: Eurostat
Total tax burden* - internationalcomparison Source: Eurostat * share of all taxes and social contributions of GDP
Tax burden* – development in SR Source: Eurostat * share of all taxes and social contributions of GDP
Public deficit (% of GDP) Source: Eurostat
Public debt (% of GDP) Source: Eurostat
Comparison of old and new tax system Source: Ministry of Finance of the Slovak Republic
Comparison of principal parameters of income tax and social security contributions system Note: * small entrepreneur with employees insured in different healthcare insurance companies Source: Ministry of Finance of the Slovak Republic
Effective taxation of individuals´ income 35 30 2003 2004 25 20 15 10 5 0 4,8 3,8 4,4 2,6 2,9 3,2 3,5 5,4 2,3 4,1 5,1 6,0 0,4 0,7 1,0 5,7 1,6 1,9 1,3 Multiples of average income Source: Ministry of Finance of the Slovak Republic, own calculations
Income tax of individuals and dividend tax in EU countries as of 2005 Source: Ministry of Finance of the Slovak Republic
CIT rate and revenues in selected EU countries as of 2006 Source: Eurostat, own calculations
CIT rate and revenues in Slovakia in 2003 – 2008 Source: Ministry of Finance of the Slovak Republic, own calculations