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Zuzana BlazejovaThe company name is only visible to registered members.Changes to Slovak tax, state aid and accounting legislation approved today
Dear All,
The Slovak parliament approved today a number of changes to the tax, state aid and accounting legislation which include the following key changes:
• Tax depreciation – Increases in the level at which assets have to be depreciated for tax purposes rather than expensed and the possibility to split an asset into its component parts for tax depreciation purposes
• Unrealized foreign exchange differences - Possibility to exclude unrealized foreign exchange differences from the tax base in the first tax period of newly established companies and clarification of rules in the case of reorganizations
• Fuel costs – Simplified calculation of the tax deductible portion of fuel costs
• Special tax records - Introduction of the possibility to maintain special tax records for individual entrepreneurs instead of full bookkeeping records
• Tax allowances - Changes in the amount and qualification for individual tax allowances
• VAT grouping - Introduction of tax grouping for VAT purposes with effect from 1 January 2010
• Accelerated refund of VAT for qualifying taxpayers
• Changes in VAT deduction rules
• Changes to state aid legislation
• Changes in the criteria for requiring a statutory audit of a company’s accounts
We will shortly post a Newsflash to this topic on our web-site
http://www.kpmg.sk.
Kind regards,
Zuzana
- 17 Feb 2009, 4:57 pm
