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. Slovak Republic introduced Country-by-Country Reporting (CbCR) based on the recommendations of the OECD. All multinational corporations with combined annual revenues of at least EUR 750 million will be obliged to file a CbC report. The CbC report must be submitted by a resident company in Slovak Republic that is the parent company of a corporate group and shall be submitted in the jurisdiction where the groupās ultimate parent company is tax resident and shall be exchanged with the jurisdictions where the group operates. 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 ā¬750 million. The report must cover distinguishing between related and unrelated parties, group revenue, 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 tax year end.
Panama ratifies DTA with Vietnam
»
Related Posts

Israel: Parliamentary Finance Committee approves 2025 budget
Israel's Parliamentary Finance Committee approved the 2025 state budget on 23 March 2025. The bill proposes that the net state budget for 2025 will stand at about NIS 755.9 billion ā the total budget for calculation of the expenditure limit
Read More
Israel seeks input on local R&D centres and IP valuations
Israelās tax authority (ITA) released a draft Tax Circular on 27 February 2025 for public comment. The circular outlines criteria and requirements for local R&D centres and post-acquisition IP sales, offering potential certainty from the
Read More
Israel proposes withholding tax on digital asset transactions
Israelās government proposed draft regulations on 21 November 2024 to impose withholding tax on digital asset transactions, including cryptocurrencies, tokens, and non-fungible tokens (NFTs). A recent ministerial memorandum clarified that
Read More
Israel clarifies CbC reporting rules for MNEs
The Israel Tax Authority (ITA) issued Income Tax Circular No. 1/2025 on 11 February 2025, which clarifies amendments to the Income Tax Ordinance. The amendments pertain to transfer pricing and country-by-country (CbC) reporting requirements. The
Read More
Israel: Knesset passes trapped profits law
Israelās Knesset has passed the Trapped Profits Law (tax on excess undistributed profits) on 29 December 2024. The law imposes a 2% tax on excess undistributed profits of closely held holding companies (entities with five or fewer
Read More
Israel issues guidance on increased VAT rate
Israelās Tax Authority has issued guidance on the increase in the standard VAT rate from 17% to 18%, effective 1 January 2025. The guidance provides an explanation of how to apply the correct VAT rate to transactions such as goods, services,
Read More