Flat Tax Anyone?
More Dzurinda. He has assisted in the implemenation of a “flat tax” for Slovakia . . . and guess what, it’s working:
We have gained valuable experience from the tax reform. We have introduced a flat rate tax for both legal and natural persons. We harmonised VAT rates into a single rate. Without any exceptions. The result is improved tax collection and administration, higher transparency, less bureaucracy, and higher tax revenues for the state budget.
The result of this reform is also a significantly higher influx of foreign investments, which brings new jobs and a faster economic growth.
High transparency and less bureaucracy! That doesn’t sound like the IRS. The U.S. has set an example of democracy and freedom for Slovakia. Perhaps, Slovakia could teach us something about tax collection.