Slovak Republic introduces draft law on OECD Pillar 2 global minimum tax

August 05, 2023

The Slovak Republic Ministry of Finance has initiated a public consultation process to get feedback on a draft law aimed at implementing a 15 percent global minimum corporate tax rate. The objective of this legislative proposal is to align

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Slovak Republic increases solidarity contribution rate on energy sector

May 15, 2023

On 22 March 2022, the Slovak Republic has published Law No. 124/2023, which brought about an amendment to the existing Law no. 519/2022 of 22 December 2022. This amendment pertains to the solidarity contribution imposed on oil companies and is based

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Slovak Republic amends TP documentation requirements

January 15, 2023

The Slovak Ministry of Finance (MoF) has issued new guidelines to determine the content of transfer pricing (TP) documentation, effective for the tax period starting after 31 December 2022. The guidelines reflect an amendment to the income tax

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Slovakia approves windfall tax on electricity sector

December 12, 2022

On 6 December 2022, the Slovak parliament approved a law for the introduction of a windfall tax on electricity companies. The windfall tax applies the period from 1 December 2022 to 31 December 2024 with an installed capacity exceeding 0.9

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Slovak Republic implements EU CbC reporting directive

December 11, 2022

The amendment to the Accounting Act No. 407/2022 implements EU Directive No. 2021/2201 requiring qualifying multinational enterprises (MNEs) doing business in the EU to publicly disclose certain information on a country-by-country (CbC) basis,

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Slovak Republic approves draft bill to amend transfer pricing rules

August 26, 2022

The government of the Slovak Republic has approved the draft law amending the Income Tax Act and the Act on Tax Administration. The amendments include following changes: implementation of rules on restriction of interest deduction in accordance

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IMF Report on Slovakia Makes Policy Recommendations

May 20, 2022

On 20 May 2022 the IMF issued a report following discussions with Slovakia under Article IV of the IMF’s articles of agreement. During 2021 the recovery of the Slovak economy was dampened by resurgence of the pandemic and supply chain

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Slovak Republic: OECD considers reforms to strengthen the recovery and future growth

January 17, 2022

On 13 January 2022 the latest OECD Economic Survey of the Slovak Republic was issued. The report notes that Slovakia’s recovery plan, supported by the EU, can give a boost to the economic recovery and growth, although there are downside

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OECD: Peer review reports on making tax dispute resolution more effective

May 25, 2021

On 25 May 2021 the OECD released a further batch of eight Stage Two peer review reports in relation to making dispute resolution mechanisms more effective under BEPS Action 14. The minimum standard under BEPS action 14 is concerned with

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Slovak Republic introduces relief measures in response to the Covid-19 pandemic

March 13, 2021

On 24 February 2021, the Slovak Republic has published Regulation No. 88/2021 regarding the relief of late payment interest and penalties in response to the Covid-19 pandemic. Regulation No. 88/2021 entered into force on 26 February 2021. The tax

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DAC6 Updates: Optional deferral of DAC6 reporting deadlines

July 30, 2020

On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under

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Slovak Republic: Tax relief in response to COVID-19 pandemic

March 23, 2020

On 18 March 2020, the Government of Slovak Republic approved a draft regulation for the cancelation of the penalty for underpayments of income tax and extends the deadline for the filing of income tax returns. There are also provisions to delay the

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Slovak Republic: Implementing mandatory disclosure rules

October 18, 2019

On 14 October 2019, the Government of Slovak Republic published in the Collection of Laws the final legislation that transposes the Directive on Administrative Cooperation in Taxation (DAC6) commencing Mandatory Disclosure Rules (MDR). On

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Slovak Republic: President signs the law to update Income Tax Act

October 10, 2019

On 1 October 2019, Ms. Zuzana Čaputová, the President of Slovak Republic signed the law introducing updates to the Income Tax Act. On 29 May 2019, the Slovak government approved draft law to update the Income Tax Act. The draft law proposes the

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Slovak Republic approves a draft law to update income tax act

June 22, 2019

On 29 May 2019, the Slovak government approved a draft Law to update the Income Tax Act. The draft law proposes the implementation of Directive 2017/952 amending Directive 2016/1164 as regards hybrid mismatches with other countries. It also

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Slovak Republic: New proposal to revise R&D tax regime

February 27, 2019

On 21 February 2019, the government of Slovak Republic proposed to amend the research and development (R&D) tax regime. The proposed amendment would increase the allowable deduction with qualifying R&D expenditures. According to proposal,

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Slovak Republic: New guidelines for TP documentation requirements

February 24, 2019

The Ministry of Finance of the Slovak Republic issued new guidelines no. MF/019153/2018-724 (MF SR Guidelines 2018) on content of the transfer pricing (TP) documentation was issued in December 2018 replacing the Guidelines no. MF/014283/2016-724 (MF

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Slovak Republic: President signs a Law to ratify BEPS MLI

August 05, 2018

The Slovak President, Andrej Kiska, has signed a Law on July 30, 2018, for ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS (MLI). This means that Slovak Republic has completed the domestic

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