- Service: Tax
- Type: Publication series
- Date: 6/14/2011
- In April issue of Tax & Legal News we outline information on the publication of the draft law on E-Government, Korean-EU Free Trade Agreement and preferential rates, amendments to the investment aid act, amendment to the Civil Procedure Code and the Judgment of the Supreme Court of the Slovak Republic on the due date of purchase price of goods. Click for April tax and legal news (pdf)
- In our March issue of Tax & Legal News we outline information from the conference on the future of collection of taxes, published details of the financial transaction tax, changes and amendments to the Act on liability for damage caused in relation with exercise of the public authority and a court decision on obstructing bankruptcy proceeding by failure to file a petition for bankruptcy proceeding.
Click for March tax and legal news (pdf)
Archive/Tax News 2012
The Parliament approved an increase of income tax rate, restriction of possibility to extend the term for filing of income tax returns and changes in taxation of dividends.
Click for December tax alert
On 22 August 2012, an amendment to the Slovak VAT Act was published in the Collection of Laws.
Click for November tax alert (pdf)
In November issue of Tax News we outline information on a commission proposal on the VAT treatment of vouchers, “One Stop Shop” scheduled for 2015, CJEU Judgment in Case C-587/10 Vogtländische Straßen-, Tief- und Rohrleitungsbau GmbH Rodewisch (VSTR) on Intra-Community supply of goods, proposed change in the taxation of winnings in kind, published updated EU import preference scheme, consideration in connection with reduced VAT rates in the EU as well as labour subsidies.
Click for November tax news (pdf)
Welcome to our October issue of Tax News. In this issue we outline information on the amendment to the Income Tax Act, amendment to the Act on excise duty on tobacco products, changes in the organization of the tax authorities, proposal of new Act on International Assistance and Cooperation upon Administration of Taxes, amendment to the Act on health insurance, notification for foreign persons in respect of VAT, proposed changes to the Commercial Code and draft amendment to the Labor Code.
Click for October tax news (pdf)
- In this issue we outline information on the postponement of mandatory electronic filing, EU grants for industrial research and experimental development, one year anniversary of the EU-Korea Free Trade Agreement, the amendment to the VAT Act was published in the Collection of Laws and CJEU Judgment in Case Mecsek-Gabona Kft related to Intra-Community supply of goods.
Click for September tax news (pdf)
- The financial services sector was keenly awaiting the decision in case C-44/11 Deutsche Bank against Finanzamt Frankfurt/M. V-Höchst, which was pronounced by the ECJ on 19 July 2012. We reported on the case in June 2012 Tax Alert after the Slovak Ministry of Finance published a Guideline on value added tax (VAT) treatment of portfolio management services. According to the Guideline, the service is exempt from value added tax under certain circumstances. The Guideline was binding until the pronouncement of the judgment in case Deutsche Bank
Click for September tax alert (pdf)
The governmental draft Amendment to the Income Tax Act to be effective from 1 January 2013 has been opened for comments to be delivered within shortened deadline. The Amendment includes measures aimed on increasing revenues of the state budged impacting both individuals and companies
Click for September tax alert (pdf)
On 10 August 2012 the National Council of the Slovak Republic has adopted an extensive amendment to the Act on Social Insurance, which also includes related amendments of the Act on Health Insurance, the Labour Code, the Income Tax Act and of other acts.
Click for August tax alert (pdf)
On 9 August 2012 the President of the Slovak Republic signed the Amendment to the Slovak VAT Act approved by the Slovak Parliament on 26 July 2012.
- Click for August tax alert (pdf)
On 7 August 2012 the President of the Slovak Republic signed the Law on the special levy for businesses in regulated industries which had been approved by the Parliament on 26 July 2012.
Click for August Tax alert (pdf)
- Welcome to our July issue of Tax News. In this issue we are bringing you information on VAT topics, changes in administrative fees and updated Guidelines for Authorised Economic Operators.
Click for July Tax news issue (pdf)
- Welcome to our June issue of Tax News. In this issue we are bringing you information on the release of a discussion draft on transfer pricing aspects of intangibles and a discussion draft on safe harbors by OECD and the OECD invitation of comments on certain transfer pricing timing issues. We also outline information on the amendment to the Act on Bankruptcy and Restructuring and the proposed amendment to the Commercial Code and Criminal Code.
Click for June Tax news issue (pdf)
- The deputies of the Slovak Parliament approved on 20 June 2012 a proposal for the amendment of the Act No. 609/2007 Coll. on Excise Duties on Electricity, Coal and Natural Gas and on the change and amendment of the Act No. 98/2004 Coll. on Excise Duties on Mineral Oil as amended and on the change and amendment of certain acts. Besides other changes, the Parliament amended the Act No. 595/2003 on Income Tax as amended with effect from 30 June 2012, specifically by the cancellation of the tax on emission quota for the year 2012.
Click for Tax news issue
- On 13 June 2012, on the basis of a proposal filed by 37 Members of Parliament in 2011, the Constitutional Court of the Slovak Republic suspended applicability of the Tax on Emission Quotas. This is a temporary measure, i.e. the suspension will be applied until the Court decides on the issue of constitutionality of § 51b as such. The ramifications of this preliminary action are not entirely clear yet. Provided that the suspension of this provision will last as at 30 June 2012, taxpayers will probably neither have to file tax returns for the tax on emission quotas for 2011 within that deadline, nor pay advance payments for the first half of 2012. It remains, however, unclear so far whether the tax authorities will refund the advance payments paid during the year 2011 as overpayments upon taxpayer’s request. We shall continue to explore this issue in more detail.
The Slovak Ministry of Finance published a Guideline on value added tax treatment of portfolio management service.
Click for Tax news issue.
- On 29 February 2012, the Slovak Parliament passed an amendment to the Act No. 563/2009 Coll. (Tax Procedure Code), based on which the entry into force of the obligation to deliver all filings by electronic means by defined persons is again postponed.
Click for Tax news issue.
- Welcome to our February issue of Tax News. In this issue we would like to summarize the key changes to the Tax Administration Code, Act on Local Taxes and Accounting Procedures. We also outline information on forfeiture of receivables, Implementing Regulation concerning administrative cooperation and combating fraud in the field of VAT and the availability of Country VAT/GST Essentials.
Click for February Tax news issue.
- Welcome to our January issue of Tax News. In this issue we would like to inform you about the amendment to the income tax act in connection with tax depreciation, the obligation to prepare statements of selected data and amendment to the act on securities.
Click for January Tax news issue.
Archive/Tax News 2011
In this December issue of Tax News we outline information on the new legislation on advertisement of drugs and their tax aspects, postponement of the mandatory electronic filing, changes in payment of taxes, amendment to the Slovak Income Tax Act, the newly created register of financial statements, relief on services provided as volunteering and the white paper on the future of VAT in the EU.
Click for December Tax news issue.
- The new Act on Drugs and Medical Aids changes the legal environment in the area of pharmacy in the Slovak Republic as of 1 December 2011. Concurrently, the new regulation on the advertisement of drugs affecting the taxation of medical staff, health care providers and pharmaceutical companies comes into force. The selected important changes in the area of drug advertising and their tax aspects are described in the attachment.
- Welcome to our November issue of Tax News. In this issue we outline information on the mandatory electronic filing as of 1 January 2012, new method of tax payment identification from 1 January 2012, ECJ Case on the purchase of non-performing loans and proposed changes to the definition of “permanent establishment” in the OECD model tax convention.
Click for November Tax news issue.
- Welcome to our October issue of Tax News. In this issue we outline information on the amendment to the act on bankruptcy and restructuring, new rules for cancelling employment relationships, legislative changes in the area of VAT with effect from 2012 and 2013, as well as on the proposal for an amendment of the VAT Act.
Click for October Tax news issue.
- Welcome to our September issue of Tax News. In this issue we outline information on royalties, demonstrating the arm’s length principle in the case of intra-group loans, the OECD report on existing transfer pricing simplifications and on taxation of income from Luxembourg investment funds.
Click for September Tax news issue.
Welcome to our August issue of Tax News. Inside we outline information on the amendment to the Labour Code, verification of the VAT identification number of VAT payers in other EU member states and comment on the Amendment to the act on investment incentives.
Click for August Tax news issue.
Welcome to our July issue of our Tax News. We have a summary of the new amendment to the Commercial Code and the implementation of the UNITAS project, as well as tax loss carry forward matters, an amendment to the state aid act and the third Slovak VAT case in front of the ECJ. Click
for July Tax news issue.
- Welcome to our June issue of Tax News. We wish to outline information on the taxation of fringe benefits provided to employees and their relatives, the activities of the OECD in clarification of the term “beneficial owner”, as well as an overview of the approved reform of the tax and contributions system in Slovakia, the conception of the fight against tax evasion and the implementation of the new EU Council Regulation of VAT.
Click for June Tax news issue.
- Welcome to our May issue of Tax News. In this edition we discuss the EU – South Korea Free Trade Agreement and outline the income tax issues connected with the sale of shares in a limited liability company. We also summarize the EC proposal for a common consolidated tax base within the EU and the OECD project concerning intangibles.
Click for May Tax news issue.
- Welcome to our April issue of Tax News. We trust that the information in reports issued by the European Commission as well the Green Paper on the future of VAT will be of interest. We also summarise the results of a KPMG research project related to transfer pricing and a discussion on the planned taxation of the financial sector.
Click for April Tax news issue.
Welcome to our March edition of Financial News in which we highlight some interesting topics, e.g. filing income tax returns and changes to the tax return form in comparison to the last year. We also summarise information on the territorial jurisdiction of tax authorities, highlight the latest developments in state aid legislation and outline information on the KPMG VAT/GST survey. We also summarize the Euro Tyre Holding VAT case.
Click for March Tax news issue.
- Welcome to our February edition of Tax News, in which we outline information that you can find useful. As an example, we mention how our experience reveals some of the frequent errors made by corporate taxpayers when completing income tax returns. We also summarise the key provisions for tax on emission quotas, provide information on the resolution of the Slovak Supreme Court of Justice on interrelated supplies of goods and services from a VAT perspective and information on changes to collective investment schemes.
Click for February Tax news issue.
Tax Alert - Tax Alert update