The United Kingdom (hereinafter referred to as the UK) leaving the EU has been a very topical issue at the European level for the last two years. If the UK does not approve the EU withdrawal agreement, or request a prolongation of EU membership, it should be released on 31 October 2019, from the EU…
I tento rok sme podporili známy medzinárodný výškarský míting – Banskobystrická latka, tentokrát jubilejný 25.ročník. Vysledky BBL 2019 www.banskobystrickalatka.sk
In its official Finančný spravodajca bulletin no. 34/2018 published in 2018, the Ministry of Finance announced new guidelines no. MF/019153/2018-724 (“Guidelines”) defining the contents of transfer documentation and which is accessible on the Ministry of Finance’s website at https://www.finance.gov.sk/sk/financie/financny-spravodajca/2018/. Like the original text of the guidelines, documentation related to transfer pricing is classified as complete,…
The amended VAT Act proposes abolishing the institute of VAT guarantees as implemented in the VAT Act beginning in 2012. Decisions regarding the pledging of VAT guarantees issued before 31 December 2018 are to be rescinded. The Tax Office shall refund such financial guarantee or a portion thereof by 28 February 2019 under the assumption…
The current definition of turnover specifically uses the terms “income” and “revenue”, which results in unequal conditions for taxpayers who operate under accrual basis accounting (double-entry bookkeeping) and cash basis accounting (single-entry bookkeeping). These terms are replaced by the phrase ”the value of delivered goods and services”, which means that turnover includes the value of…
New VAT rules were defined for the use of vouchers due to a lack of uniformity in the application of the rules to define the place and time of delivery of specific goods and services, the establishment of the tax obligation and the definition of the tax base for transactions involving vouchers. A voucher is…
The amended VAT Act has reduced the VAT rate for accommodation services. The VAT rate is reduced from 20% to the current 10% rate and is applicable to all accommodation services assigned code 55 per the Statistical classification of products by activity (CPA). The following accommodation services are involved: 55.1: hotel and similar accommodation…
A significant change in the VAT Act is the application of a VAT scheme with respect to the delivery of projects and the rental of real estate as well as the definition of the term “initial statutory permitting”. The delivery of projects or portions thereof, including delivery of the building lot (§38 (1)) on which…
The amended VAT Act modifies the rules for the application of the domestic tax liability transfer for transactions involving selected agricultural products, selected metals and metal products. The amended VAT Act valid from 1 January 2018 cancelled the €5,000 limit on the tax liability transfer to the recipient, i.e. a registered VAT taxpayer, of the…
The amended Labour Code introduced a new obligation for employers in the form of providing recreational vouchers and recreation allowances. An employer with more than 49 employees shall be obliged to provide employees who have been employed for at least 24 consecutive months and upon their request, with a recreation allowance of 55% of eligible…