The Parliament approved the bill regarding country-by-country (CbC) reporting on 1st February 2017. It must be published in the Collection of Laws for becoming law. This bill will become effective as from 1st March 2017. It was submitted to the parliament on 4th November 2016. The following requirements have been approved:
Slovak Republic introduced Country-by-Country Reporting (CbCR) based on the recommendations of the OECD. All multinational corporations with consolidated annual revenues of at least EUR 750 million will be obliged to file a CbC report. The CbC report shall be submitted in the jurisdiction where the group’s ultimate parent company is tax resident and shall be exchanged with the jurisdictions where the group operates.
The Country-by-Country (CbC) report must be submitted by a company resident in Slovak Republic that is the parent company of a corporate group. A parent company is a company that is not a subsidiary of any other company in Slovak Republic. The country by country reporting requirement applies where the consolidated group revenue in the preceding year is at least €750 million.
The report must cover group revenue, distinguishing between related and unrelated parties; accounting results before corporate income tax (or similar taxes); and corporate tax (or similar taxes) paid or accrued, including withholding tax. The average number of employees in each entity must be reported.
The CbC report must be submitted within twelve months after the end of the tax year.
