The Slovak Parliament is reviewing proposed bills to lower corporate tax rates and extension of the loss carryforward limit in the country.
One of the draft bills advocate reducing the corporate tax rate to 16% from the standard rate of 21% and 24% for incomes over EUR 5 million and the corporate tax rate for small taxpayers from 10% to 9% for incomes up to EUR 100,000.
The other draft bill suggests extending the loss carryforward limit and excess R&D deduction limit from five to 15 years. The draft legislation also includes additional deduction for increased R&D costs.
