A short-time work scheme referred to as “Kurzarbeit” was introduced into Slovak legislation following the adoption of Act on Support during Short-time Work and on Amendments to Certain Acts (hereinafter referred to as “Act on Support for Short-time Work”). The purpose of this legislation is to provide a subsidy to employees and employers in emergency…
Choice between meal vouchers and a financial contribution for meals One of the most significant changes introduced by the amendment to the Labour Code is the possibility for an employee to choose between meal vouchers and a financial contribution for meals. This alternative is an addition to the three existing catering options (i.e. (1) own…
On 4 May 2021, the National Council of the Slovak Republic adopted Act No. 215/2021 Coll. on Compensation for Reduced Working Hours and on amendments to certain acts with effect from 1 January 2022, which amends Sections 9 and 13 of Act No. 595/2003 Coll. on Income Tax, as amended. Under this amendment, compensation for…
Below is a summary of the latest news on the upcoming amendments to the Labour Code (i.e. amendment to Act No. 311/2001 Coll.) and the Tax Code (i.e. amendment to Act No. 563/2009 Coll. on Tax Administration). In addition to the Tax Code, the amendment to the Tax Code should also amend the Income Tax…
Changes in research and development cost deduction In research and development cost deduction, the costs covered by the public support may not be deducted. The Amendment allows the inclusion of wage costs which were supported by a contribution provided under the active labour market policy in connection with the declaration of the state of emergency…
The criteria for determining the tax residence of a legal entity are specified Section 2(d) of the Income Tax Act defines a legal person to be a resident of Slovakia, provided that their registered office or place of effective management is located in the territory of the Slovak Republic. The term “registered office” is being…
Registration of taxpayers ex officio The registration and notification obligation related to the tax registration of taxpayers – natural and legal persons – ex officio is changing. After the registration of a taxpayer (e.g. a company) in the Register of Legal Persons, the deadline for automatic tax registration performed by the tax administration is postponed…
In October 2020, the government launched a project entitled First Aid Plus, which expanded the First Aid project. The aim of the new First Aid Plus project was to increase and extend financial assistance provided to protect jobs and to widen the scope of eligible applicants. As of February 2021, the First Aid Plus project…
On 27 January 2021, the Slovak government approved a draft amendment of Act No. 67/2020 on certain emergency measures in the financial area in relation to the spread of COVID-19 (also dubbed “Lex Corona”). The aim of the present amendment is to help taxpayers affected by the economic measures adopted during the pandemic by including…
On 27 January 2021, the Slovak government adopted a draft amendment of Act No. 67/2020 on certain emergency measures in the financial area in relation to the spread of COVID-19 (also dubbed “Lex Corona”). The aim of the present amendment is to include expenditure incurred for COVID‑19 testing in tax expenses and to alleviate the…