Finances and Advisory, page 5
Investment and taxes in Slovakia
Slovakia records foreign trade surplus of €3.303 bn
TOTAL exports reached €5.099 billion in December, representing an increase of 6.5 percent year-on-year, while imports rose by 7.5 percent to €5.165 billion, Slovakia’s Statistics Office stated in a detailed report on March 10.
Tax Freedom Day falls on May 28 this year
Slovaks needed to work three days longer to fulfil their tax duties than last year.
Conditions for lending companies change
Tightened regulation may push low-income clients into a grey zone.
Best corporate taxpayers awarded
The company that paid the highest corporate tax for selected tax subjects was Kia Motors Slovakia.
Changes are meant to target tax dodgers
Lawyers critical of rules that kicked in at turn of year.
Provident Financial leaves Slovakia, due to new law
THE NON-BANKING institution Provident Financial, one of the most important lending companies in Slovakia, has announced it will no longer lend money there.
Property tax influenced by elections
THE YEAR of 2016 has not brought any significant increase in real estate tax, or property tax, in Slovakia even though its rates traditionally change upwards one year after the municipal elections.
Slovaks reluctant to use e-tax returns
FILING a tax return can be – instead of a lengthy and tedious procedure – an easy action without queuing at post offices or filling in forms by hand.
Tax system grows more complicated
Revisions seem good, but also raise new issues.
Re-financing boom will intensify
A new law is set to boost interest in re-financing old mortgages.
Firms can transfer VAT tax duty
SINCE the beginning of 2016, the duty to pay value-added tax (VAT) is transferred from contractors to customers of construction works.
Bank fees targeted again
Free and €3 bank accounts part of the second social package.
Mihók: Slovak Economy in Good Shape in 2016
AT THE DAWN of 2016, the Slovak economy seems to be in good condition both in terms of public finances and basic macroeconomic parameters, according to Slovak Trade and Industry Chamber (SOPK) chair Peter Mihók.
Household debt increases and spawns risks
THE VOLUME of loans provided to households grew by 13 percent on a year-on-year basis in the first three quarters of 2015.
Central bank reveals deficiencies in non-banking firms
NON-BANKING companies active in Slovakia violate several rules when they offer loans to clients.
Slovaks earn for themselves since August 10
SLOVAK working people started to earn for themselves, instead of for the state – in the form of taxes – from August 10 on.
Availability of virtual cash registers
FROM January 1, 2016, more than 150,000 businesspeople with an electronic cash register will be able to use a new system of the virtual cash register (VRP).
Financial Administration tax fraud roundup
TAX Cobra, the special unit formed to investigate tax-related crimes, detected three serious tax crime cases in the second quarter of 2015; in one of them, a Financial Administration official was directly involved who is now evading police.
Statutory audits should be more independent
But some rules may be harmful.
Tax havens become less attractive
THE NUMBER of Slovak companies with ownership registered in a tax haven decreased in the first half of 2015 by 112, to a total of 4,250.
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