Slovakia - Introduction of VAT Grouping [19 April 2009]
From 1 April 2009, VAT grouping is possible. Related entities with their seat or with an establishment in Slovakia may register for Slovak VAT as a single taxable entity if certain conditions are met.
If so registered, transactions within the group are outside the scope of VAT. The tax authorities will register a VAT group as of 1 January of the year following that in which the registration request is filed, provided this is done by 31 October of that year. If the request for registration is filed after 31 October, the tax authorities will register the group for VAT as of 1 January of the second year following that year in which the registration request is filed.
Slovakia - Change to Corporate Tax Legislation [28 February 2009]
Effectively 1 March 2009 some changes in the corporate tax act will be implemented. The most important changes are:
- The value of fixed assets and intangible assets which may be booked as expenses rather than being depreciated will be increased. Fixed assets with a value up to € 1,700 and for intangible assets up to a value of € 2,400 may be booked as expenses.
- New buildings put into operation in 2009 may be dissected into their respective components for tax depreciation purposes provided certain conditions are met.
- Fuel used for business purposes will be deductible for 80%.