Together with our colleagues Jan Vajcik, Vladimíra Mačuhová, Lubomira Murgasova, Richard Panek, Martin Tužinský and PRK Partners we have written a “commentary” on the Financial Transaction Tax Act

Together with our colleagues Jan Vajcik, Vladimíra Mačuhová, Lubomira Murgasova, Richard Panek, Martin Tužinský and PRK Partners we have written a “commentary” on the Financial Transaction Tax Act. A piece of good work.

I have dealt with the interpretation of the term “carries on business in the domestic territory”. Admittedly legalese, but whoever is interested in this topic (and others), the link is in the first comment.

In my opinion, the Treasury’s interpretation of this term is incorrect and the law is (very) poor. In the commentary I offer an alternative interpretation (the so-called rational interpretation) with arguments – see link.

The most pressing problems with the Department’s interpretation:
– is inconsistent with the statute;
– is inconsistent with the explanatory memorandum;
– is inconsistent with the rational basis theory of lawmaking;

I presented these arguments (see photo), including the general requirements for quality standard-setting, in my lecture at the other methodological days of the Slovak Chamber of Tax Advisors, which were also attended by the creators of the Financial Transaction Tax Act, the Financial Administration and the Supreme Administrative Court of the Slovak Republic.

I tried to demonstrate the importance of good norm-making in my lecture by the creation of dining rules in our family. So let’s see. Judicial practice will show…

Thank you very much Slovak Chamber of Tax Advisors for following the initiative and processing.