A draft amendment to income tax law in Slovakia contains provisions regarding changes to the rules for transfer pricing and thin capitalization. The amendment was accepted on August 2014, and if enacted, the changes usually would have an effective date of January 1, 2015. According to proposed legislation, new rules would be applicable for Slovak taxpayers related to other Slovak taxpayers. These taxpayers would be needed to make transfer pricing documentation. If the documentation were not submitted within 15 days after a request of production, taxpayers would be faced frequent penalty assessment of up to €3,000. The proposal would expand thin capitalization rules application to all legal entities (except banks, insurance companies, reinsurance companies and their Slovak branches, and collective investment companies) that are related parties. According to the legislative proposals, interest more than 25% of the value of the pointer calculated as profit or loss before tax on the basis of the local accounting rules or IFRS.thin
Russia: Simplification in VAT invoice
»
Related Posts
Slovak Republic consults excise duty law amendment
The Slovak Republic’s Ministry of Finance has launched a public consultation on a proposed bill (No. MF/002387/2024-732); which aims to amend the Excise Duty Act concerning electricity, coal, and natural gas, as well as the Excise Duty Act on
Read MoreKyrgyzstan ratifies income tax treaty with Slovak Republic
Kyrgyzstan's President Sadyr Japarov signed the law ratifying the pending income tax treaty with the Slovak Republic on 19 November 2024. The treaty, signed on 13 March 2024. This agreement seeks to prevent double taxation and tax
Read MoreMoldova: Cabinet of Ministers approve ratification of amending tax treaty protocol with Slovak Republic
Moldova's Cabinet of Ministers approved ratification of the protocol to the 2003 tax treaty with the Slovak Republic on 13 November 2024. The protocol marks the first amendment to the treaty, incorporating changes that align it with BEPS and
Read MoreSlovak Republic considers abolishing financial transaction tax
The Slovak Republic’s Parliament has agreed to consider a draft bill to abolish the financial transaction tax (FTT), on 6 November 2024, due to its negative impact on businesses and potential conflicts with the country’s Constitution and
Read MoreSlovak Republic issues guidance on reintroduced minimum tax
The Slovak Republic Financial Administration released Document No. 13/PO/2024/IM, offering guidance on paying minimum tax or tax licences on 28 October 2024. The Slovak Republic has reinstated the obligation for companies to pay a minimum tax
Read MoreSlovak Republic issues tax return form for sugary beverages
The Slovak Republic Ministry of Finance released the tax return form and the related instructions for the new tax on sweetened soft drinks, effective 1 January 2025. Earlier, the Slovakian Parliament enacted the Sugar Tax Act targeting sweetened
Read More