2017: Restructuring changes take effect

None of the legislative changes introduced in 2017 are as far-reaching, in practice and in expectations, but the government has neverthe­less passed a number of changes that are set to significantly influence businesses in Slovakia.

Illustrative stock photoIllustrative stock photo (Source: TASR)

Justice Minister Lucia Žitňanská intro­duced the key measure of her term, the anti-shell law, in her first year in office under the third government of Robert Fico. None of the legislative changes introduced in 2017 are as far-reaching, in practice and in expectations, but the government has neverthe­less passed a number of changes that are set to significantly influence businesses in Slovakia.

New rules for distrainment, including personal distrainment, and major restructuring rules, are among the changes that became effec­tive in 2017. Another measure, anchored in the amendment to the Business Code, is expected to prevent the malicious fusions of companies and introduces rules against using strawmen.

Moreover, the government has introduced a set of 34 measures, the so-called Business Package, through which the Economy Ministry pledges to improve the country’s standing in the Doing Business ranking and decrease the bureaucratic burden on businesses.

34 measures

Economy Minister Peter Žiga pledged the 34 measures would apply to all businesses and should help reduce their costs by €44 million. The measures concern public administration services, increasing competitiveness, hiring em­ployees, as well as tax and business support.

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Get daily Slovak news directly to your inbox

Top stories

News digest: Slovakia still dealing with the loss of its talent

Economy minister promises extensive support for hydrogen technologies in Slovakia. Far-right supporters protested in front of PM’s house during the weekend.

The far-right ĽSNS organised a protest in front of PM Igor Matovič's house in Trnava.

Hospital manners expose the toxicity of Kollár

Unjustified privileges overshadow some good news of the coalition's work. Halloween testing will not be repeated during advent time.

PM Igor Matovič (l) and Speaker of Parliament Boris Kollár

Sulík’s party benefits from the dispute with PM Matovič

The Hlas party of former PM Pellegrini is rising, too.

Economy Minister Richard Sulík (l) was charged by PM Igor Matovič (r) to purchase millions of antigen tests.

Anyone can publish a book. Authors often avoid publishers

Self-publishing is setting a new trend.

Nikoleta Kováčová has published two cookbooks without the aid of a publishing house.