Action 13: Country by Country Reporting – Members of groups with consolidated turnover greater than € 750 million a year: Attention

2017, NewsBy dan103065Wednesday March 29th, 2017

Brief overview of treatment As part of Action 13 to re-examine transfer pricing documentation, the Slovak Republic signed along with thirty other countries a document on automatic exchanging of information – “Country-by-country (CbC) reporting” – on 28 January 2016. CbC reporting rules apply to large multinationals with consolidated annual turnover above 750 million EUR. These…

Tax deductible costs after payment

2017, NewsBy dan103065Thursday February 23rd, 2017

The amendment to the Act on Income Tax effective from January 1, 2017 extends the definition of the term rent. Inter alia, the condition of payment as defined in § 17 Sec. 19 b) applies not only to the lease of movable and immovable property, but also to the payment for granting the right to…

Changes involving the international exchange of information

2017, NewsBy dan103065Tuesday February 14th, 2017

As of January, changes to the Foreign Accounts Tax Compliance Act or FACTA, which was adopted in the United States to prevent tax evasion and fraud involving American citizens and residents using foreign bank accounts, are being prepared. FACTA has ensured the automatic exchange of information concerning financial accounts for tax purposes between the Financial…

Change in the calculation of advance payments in 2017 for tax returns filed in 2016

2017, NewsBy dan103065Tuesday February 14th, 2017

Special notice for legal entities making advance tax payments! Please note the following if you make monthly or quarterly advance tax payments. As you surely know, the amended income tax act, inter alia, reduced the corporate tax rate by one percentage point, from 22% to 21%. In connection with advance tax payments in the period…

Changes in the tax code effective 1 January 2017

2017, NewsBy dan103065Tuesday February 14th, 2017

The government’s amendment of Act No. 563/2009 Coll. on Tax Administration (Tax Code) entering into force on 1 January 2017 was published in the Collection of Acts on 15 November 2016 under no. 298/2016. The amended act is an effort to work towards fulfilling the current Action Plan to combat tax fraud and evasion, to…

REPORTING OBLIGATION – author’s income

2016, NewsBy dan103065Monday December 19th, 2016

We would like to draw your attention to the reporting obligation of taxpayers towards tax administrators by 15 January 2017 in relation to the change in author’s income taxation in 2016. As of 1 January 2016, author’s income based on the Copyright Act resulting from the creation of a work and artistic performance under Paragraph…

Change of meal vouchers value and subsistence allowance as of 1 December 2016

2016, NewsBy dan103065Monday December 19th, 2016

On 1 December 2016, minimal value of meal vouchers increases from EUR 3.15 to EUR 3.38. New maximum value of meal vouchers is EUR 4.50. Employee is entitled to get a meal voucher for each working day on which they worked for more than 4 hours. Act on Travel Allowance effective since 1 December 2016…

Compulsory activation of e-boxes postponed to 1 July 2017

2016, NewsBy dan103065Sunday December 18th, 2016

On 7 December 2016, amendment of Act No. 305/2013 Coll. on e-government was adopted, postponing compulsory activation of electronic mailboxes of legal persons registered in the Commercial Registry to 1 July 2017. Members of the National Council of the Slovak Republic made this decision in accelerated legislative procedure. Business entities which have not activated their…

LOCAL DEVELOPMENT FEE

2016, NewsBy dan103065Saturday December 17th, 2016

The aim of the Act is to establish into self-regulating competence a financial tool that will be created by each municipality on a voluntary basis by a generally binding regulation, which shall have an acceptance role, development role and anti-corruption role. Act 447/2015 Coll. on local development fee and on changes and amendments to certain…

AMENDMENT OF ACT ON HEALTH INSURANCE

2016, NewsBy dan103065Saturday December 17th, 2016

The amendment of Act on Health Insurance of 30 November 2016, amending Act No. 580/2004 Coll. on health insurance, repeals maximum assessment bases for the calculation of health insurance contributions as of 1 January 2017. This means that in annual clearance and in calculation of prepayments, employees, employers and self-employed persons shall pay health insurance…