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.

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