New rules to Support Business Development in Slovakia

New rules to Support Business Development in Slovakia

Bratislava, 10 June 2022

Starting with September 1, 2022, the “act amending certain laws in connection with the improvement of the business environment” will come into effect in Slovakia following the approval by the National Council of the Slovak Republic.

Among the proposed rules, we would like to outline the following:
The obligation to keep accounts and prepare financial statements in accordance with International Financial Reporting Standards is no longer mandatory for entities that meet the criteria set out in Section 17a par. 2 of Act no. 431/2002 Coll. on Accounting as amended.
If data were not entered in the commercial registry commercial entities in accordance with the application for registration, then the registry court, in cooperation with the Ministry of Justice of the Slovak Republic, shall correct such registration within five working days at following the complaint.

The electronic leasing agreements concluding between leasing companies and individuals are now available from the legal stand point.

The land tax suffered significant changes. According to the issued legislation, the highest rate of land tax can be a maximum of five times the lowest tax rate for all types of land.
The Act no. 251/2012 Coll. on Energy and on Amendments to Certain Acts was also amended. It allows the electricity supplier to set off the electricity customer’s overpayment with the electricity supplier’s receivable under the contract concluded under the Section 26 of the same law (electricity supply contract, distribution system connection contract, combined electricity supply contract etc.).


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