The value added tax ("VAT") regime is one of the most significant sources of income within the member states of the European Union and an important source of funding for the EU budget. The aim of the European Commission ("EC") is to increase the effectiveness of VAT collection, which resulted in the proposal of a legislative package for VAT in the digital age (hereinafter referred to as "ViDA")...
The European Union has taken significant steps towards integrated climate and sustainability policies with the introduction of the Carbon Border Adjustment Mechanism (CBAM or “carbon duty”), which came into force in early October. What is the meaning of carbon duty and who will be affected?
On 25 October 2023, the Ministry of Finance of the Slovak Republic (hereinafter referred to as "MF SR") published an adjusted draft amendment to Act No. 222/2004 Coll. on Value Added Tax (hereinafter referred to as the "VAT Act"). Most of the proposed amendments would enter into force on 1 January 2025. The adjusted draft amendment is the result of an inter-ministerial comment procedure. A...
The Slovak Income Tax Act No. 595/2003 Coll. (hereinafter as "SITA”) was amended several times after 1 January 2023. Read about the most significant changes effective from 2023 and 2024 summarized below by our tax experts at Mazars.
Read the new edition of our payroll newsletter prepared by Mazars' experts.
In summer, employers may expect an increased number of vacation requests. This is why we prepared the special edition of Mazars newsletter to accommodate the frequently asked questions.
Read the new edition of our payroll newsletter prepared by Mazars' experts.
The Labour Code amendment has introduced several changes as of 01.01.2023. Read the overview in our newsletter.
At the end of 2022, the Ministry of Finance of the Slovak Republic ("MFSR") published a new Guideline No. MF/020061/2022-724 (hereinafter referred to as "Guideline") in the Financial Bulletin No. 23/2022, stipulating the content of the transfer pricing documentation. The new Guideline is now available on the MFSR’s website.
Many businesses, after filing their tax return and financial statements with the Financial Administration of the Slovak Republic (FA SR), consider all the obligations related to the previous accounting period to be completed. One of the obligations is to have the financial statements audited. Let's see if your accounting entity is subject to the audit obligation.
On 6 December 2022 The National Council of the Slovak Republic (hereinafter „NC SR“) approved the Amendment to the VAT Act, which will introduce several new obligations for taxpayers. The Amendment to the VAT Act in the proposed wording takes effect from 1 January 2023, in the case of some provisions from 1 January 2024.
Read the newsletter about new meal allowance rates for time zones, changes in meal vouchers, and electronic meal card.
A new act was published in the Collection of Laws of the Slovak republic, amending and supplementing Act No. 431/2002 Coll. on Accounting as amended ("amendment"). The adopted amendment introduces, among other things, the obligation for selected accounting units to prepare a report with information on income tax.
The Financial Administration of Slovak Republic delivers the notifications about the Tax Reliability Index to the taxpayers. Do you know what the assigned Tax Reliability Index means to you?
On 6 December 2022 the National Council of the Slovak Republic approved the amendment of the Act No. 595/2003 Coll. on Income Tax Act (ITA) as well as Act No. 563/2009 Coll. on Tax Administration (Tax Code), which considerably clarifies and supplements the provisions in transfer pricing.
Read the latest news on work performed outside the employment relationship effective from January 2023.
Do you know the difference between these terms? Let's answer the basic questions.
From 1.11. 2022, an employee who is a father of a new-born child is entitled to paternity leave. This amendment to the Labour Code brings the legislation of the Slovak Republic into line with the EU directive on work-life balance for parents and carers.
V súvislosti s mimoriadnou situáciou na Ukrajine a hromadným prílevom cudzincov, ktorí prijali štatút dočasného útočiska na území Slovenskej republiky, zaviedla vláda Slovenskej republiky príspevok za ubytovanie a príspevok za poskytnutie ubytovania tzv. odídencovi (ďalej spolu ako „príspevok“).
The amendment brings, among other things, an amendment to the rules for determining the tax base of a taxpayer with limited tax liability in the territory of the SR, a change in the method of registration of selected types of taxpayers for income tax purposes and complements the procedure for tax treatment of claims in the case of preventive restructuring.
Employers’ and employees’ representatives submitted an agreement on the amount of the monthly minimum wage to the Ministry of Labour, Social Affairs and Family of the Slovak Republic.
The main goal of the proposed Amendment to the VAT Act No. 222/2004 Coll. is the implementation of Council Directive (EU) 2020/284, which introduces harmonized rules to combat tax fraud in the field of cross-border electronic commerce (e-commerce), and measures to check the correctness of the amount of tax declared.
The new meal allowance rates will apply from 1.9.2022. Read more in the payroll alert below.
Stay up to date with financial services regulation in Europe.
The amendment to the provisions of the Income Tax Act relating to the tax bonus will change the amounts of the tax bonus as of 1 July 2022, as well as the age thresholds and conditions for application.
As of 1 June 2022, the electronic confirmation of sick leave is introduced, also called “ePN”. Learn more about ePN in the newsletter prepared by Mazars' payroll experts.
The Ministry of Finance of the Slovak Republic, in cooperation with the Financial Administration of the Slovak Republic (FASR), has prepared a draft law on the transmission of invoice data (billing details) by taxpayers.
It was announced on 7 April 2022 by the Ministry of Labor, Social Affairs and Family of the Slovak Republic that the rates of meal allowances for individual time zones change. The new meal allowance rates will apply from 1.5.2022.
Stay up to date with financial services regulation in Europe.
We have summarized the most important changes in the Slovak payroll legislation in 2022, especially in the area of taxation, social and health insurance and labour law. In case you have any questions or are interested in more details, do not hesitate to contact us. The newsletter contains following topics:
On 2 December 2021, Act No. 456/2021 of 2 November 2021 amending Act No. 431/2002 Coll. on Accountancy as amended was published in the Collection of Laws. Here are the changes brought about by the amendment.
After filing their tax returns and financial statements with the Financial Administration of the Slovak Republic (FS SR), many businesses consider all the requirements related to the previous accounting period to be completed. One of the obligations is to have the financial statements audited.
On 12 November 2021, the Slovak Parliament approved Act No. 412/2021 Coll., amending and supplementing certain acts.
Employers use fringe benefits to motivate employees to perform better as well as to differ themselves from the competitors. What does the provision of various fringe benefits mean for the employer and employee in terms of taxes? What changes are coming into force in 2022 in fringe benefits?
Following the introduction of the financial contribution for meals in March 2021, the practice showed different tax treatment of the financial contribution in comparison with non-monetary forms of catering. As of 2022, the amendment which implements provisions ensuring the equal tax treatment of meal vouchers and the financial contribution came into force. Moreover, for self-employed persons,...
Stay up to date with financial services regulation in Europe.
The Ministry of Finance presented the draft of the Amendment to the Tax Code, which regulates also the VAT Act in the area of publishing bank accounts of VAT payers. The Amendment to the VAT Act which is proposed to be effective from 15 November 2021 and in the case of some provisions from 1 November 2022.
Od 1.7.2021 nadobudne účinnosť novela Zákona č. 222/2004 Z. z. o dani z pridanej hodnoty (ďalej len „ZDPH“,) ktorou sa zavádzajú nové, dobrovoľné osobitné úpravy pre daň. Ich cieľom je zjednodušiť a zjednotiť súčasné pravidlá fungovania zásielkového predaja tovaru, ako aj poskytovanie služieb na diaľku a taktiež zaviesť rovnaký prístup k daňovníkom z EÚ ako, aj mimo EÚ.
Mnohí podnikatelia po podaní daňového priznania a účtovnej závierky na Finančnú správu Slovenskej republiky (FS SR) považujú všetky náležitosti súvisiace s predchádzajúcim účtovným obdobím za uzavreté. Pozrime sa preto, aký je postup následných povinností týkajúcich sa účtovnej závierky.
Download an overview of changes in the payroll legislation prepared by our HR & payroll experts and stay always updated.
Dňa 4.2.2021 bola v NRSR schválená novela Zákonníka práce, ktorá okrem viacerých iných zmien zavádza s účinnosťou od 1.3.2021 poskytovanie finančného príspevku na stravovanie zamestnancov.
2021 opens with a relatively stable IFRS framework in which to prepare the consolidated financial statements for this financial year, given the limited number and scope of the standards coming into force on 1 January.
The OECD released its guidance on the transfer pricing implications of the Covid-19 pandemic on 18 December 2020.
Vzhľadom k tomu, že od mnohých z Vás sme dostali informáciu, že ste nepostrehli zmeny, ktoré boli prijaté v rámci tzv. „Podnikateľského kilečka“, rozhodli sme sa takto ku koncu roka stručne spracovať v našej publikácii prehľad najdôležitejších zmien.
The amendment to Act on International Assistance and Cooperation in Tax Administration introduces new obligation for taxpayers who use qualifying cross-border arrangements to report such arrangements as of 1 January 2021.
Download an overview of changes in the payroll legislation prepared by our HR & payroll experts and stay always updated.
Following the draft of the amendment of Act no. 361/2014 Coll. on Vehicle Tax (hereinafter referred to as “VT”), the amendment was approved on 5 November 2020 in the National Council of the Slovak Republic, which was published in the Collection of Laws no. 339/2020 Coll. effective from 1 December 2020.
On 22.9.2020 the National Council of the Slovak Republic approved the amendment to Act No. 67/2020 on certain emergency measures in the financial area in connection with the spread of the dangerous contagious human disease COVID-19, as amended, which ends the emergency situation and ends the pandemic period for the purposes of applying specific financial measures, including tax measures. Below...
Read the overview summary of the most significant changes brought by the draft of the Amendment to the Slovak Value Added Tax Act No. 222/2004 Coll., which was submitted for the approval to the National Council of the Slovak Republic on 28 August 2020.
24.7. 2020 - The subsistence minimum is a socially recognized minimum income limit of a natural person, below which a state of material need occurs.
19.3.2020 - The main aim of these measures is to support finance condition, liquidity and cash flow of companies and employers, to prevent collapse in the business sector and to maintain strategic and critical processes necessary to tackle COVID-19 virus spread while maintaining stability and minimising of panic.
1.4.2020 - Radi by sme Vás informovali , že sme preverovali situáciu ohľadom koronavirusu na inšpektorátu práce a potvrdili nám nasledovné:
16.3.2020 - We all agree that the ongoing development around COVID-19 pandemic has unprecedently influenced functioning of many teams and businesses. Efficiency and motivation of both managers and employees must be ensured. New situations and settings keep popping up every day. Even though we are aware of many online options they are rarely used in such wide and long measures. Let's have a look...
16.3.2020 - Ongoing situation changes our regular settings of work. Approaches that has always been considered benefits such as home office, are now the most common way of functioning. This brings questions and queries but you will find answers here.
26.3.2020 - Following the current restrictions in order to prevent the spread and to mitigate the impacts of disease Covid-19, Financial Administration of Slovak Republic informed about the possibility of filing a tax return “in paper form” and paying tax liability within an extended deadline until 30.06.2020 without submission of an official announcement.
Our HR & payroll experts have prepared an overview of changes in the payroll legislation so that you will not get confused.
The amendment to the VAT Act was approved a few days ago and will enter into force on 1 January 2020. The amendment focuses on areas that need to be brought into line with European Union legislation. It discusses the introduction of the so-called. quick fixes in call-off stock mode, chain stores and more.
Our TAX Alert presents the most important changes in the area of income tax of legal and individual persons. In a separate section we focus on the newly introduced concept of "micro-taxpayer" and the related tax advantages.
The obligation to pay insurance tax may also apply to companies that are not insurance companies and do not conduct insurance business. We would therefore like to draw your attention to the obligation to pay insurance tax in special cases.
The Ministry of Finance of the Slovak Republic has published the Guidance on the on the content of the transfer pricing documentation, which will be used when submitting documentation for tax periods starting after 31 December 2017.
The beginning of the year is traditionally dedicated to changes in the Slovak legislation regarding payrolls especially in the area of taxation, social and health insurance and labour law.
The amendment proposes several substantial changes, which should take effect from 1 January 2019. Check it.
Be sure you are not missing on any important information or a change in the local or regional scope. Do not hesitate to subscribe to our newsletter.
You will find here all our latest service line, human resources, and industry expertise publicationS. We hope you find them informative.
We are always seeking to expand and share our expertise and knowledge. We do this by running webinars, seminars, workshops and talks throughout the year.
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