The Slovak Republic parliament is reviewing a draft bill to promote investment in the modernisation and eco-friendliness of tangible assets; it introduces a new depreciation option for technical improvements to tangible assets.
Under existing depreciation guidelines, expenditures for the technical enhancement of a tangible asset elevate its input value. Depreciation charges are then calculated based on this increased input value, under the respective tax depreciation category for the tangible asset.
The draft bill maintains the current approach while introducing an additional option. This means that the costs incurred for technical improvements can be depreciated separately based on the respective tax depreciation category.
This new option is proposed to take effect from 1 January, 2025.
