In the current issue of Tax & Legal News we would like to draw your attention to the following highlights:
New duties to data registration into the Commercial Register
Individuals and legal entities must extend the range of data provided in the Commercial Register of the Slovak Republic. This is the result of the Amendment to the Act on Commercial Register summary of which we have prepared.
Three major changes brought by draft amendment to the Slovak VAT Act
The Slovak Ministry of Finance introduced a draft amendment to the Slovak VAT Act bringing three major changes.
The Slovak President signed the Act on support during the regime of abbreviated work
The Parliament approved the Act on support during the regime of abbreviated work, so called Kurzarbeit on May 4th 2021.
Digital tax within the EU
Taxation of the digital economy is listed as one of the priorities of the European Commission. The target is to secure just and efficient taxation of incomes of all companies operating in the EU, whereas the European Commission already stated in 2014, the contemporary international rules for taxation will have to be reshaped in order to cover new business models.
The public Country-by-Country Reporting is being discussed at the EU level
Country-by-Country Reporting (CbCR) is part of the 15-point Action Plan BEPS, which aims to find a solution against aggressive tax planning and ensure that tax is paid where profits and value are actually generated. CbCR was introduced into the Slovak legislation through an amendment to Act no. 442/2012 Coll. on International Assistance and Cooperation in Tax Administration effective from 1 March 2017.