On 9 April 2020 the International Accounting Standards Board (IASB) published an Exposure Draft (ED), Interest Rate Benchmark Reform – Phase 2, Proposed amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16. The Exposure Draft is a follow up to the Phase 1 amendments made to IFRS 9, IAS 39 and…
We bring you a selection of the most important changes to tax, accounting and levy laws that were adopted in the framework of a package of 114 measures to improve the business sector – the so-called “podnikateľské kilečko – Business Centum” . A gradual increase in size criteria for the statutory audit of financial statements…
1. TEMPORARY PROTECTION FOR TENANTS Under an amendment to Act No. 62/2020 Coll. on Specific Response Measures to the Spread of the Dangerous Contagious Human Disease COVID-19 and in the Judiciary, which amends certain acts (“Temporary Protection Act”), tenants (entrepreneurs and non-entrepreneurs alike) are provided with temporary rent protection if they fall behind with their…
As of 17 May 2020, new application forms have been published on the pomahameludom.sk website which have been valid since the changes to the “First Aid” project aimed at supporting job retention were implemented. The project is designed to support employers and natural persons, implementing 4 measures: Measure 1 – support for employers (including sole…
The government accepted a proposal to modify the conditions of the job retention project during a declared emergency on 14 April 2020 that results in an expansion of the relief made available to employers and employees. This is the third social relief package, and applicants can seek a contribution under the program from the Office…
This amendment proposes waiver of employer’s insurance contribution payments for April 2020 and potentially subsequent periods to be specified by the government in a regulation. Employers remain obliged to pay their employees’ insurance contributions by the original payment deadlines. This exception was approved by the government on 17 April 2020 and covers employers or mandatory…
The government approved additional measures related to COVID‑19 known colloquially as Lex Corona III, which amends Act No. 67/2020 Coll. on Extraordinary Financial Measures in Response to the COVID‑19 Pandemic as amended by Act No. 75/2020 Coll. We expect parliament approve the government’s draft in the coming days. This amendment has introduced a number of additional finance-related changes…
The Ministry of Finance released preliminary information on the draft of Ministry of Finance Measures No. MF/010704/2020-74 amending Ministry of Finance Measures No. MF/23377/2014-74 dated 3 December 2014. This draft specifies the details of individual financial statements and the scope of data from the individual financial statements for publication for the purposes of large accounting…
Act No. 67/2020 Coll. on Extraordinary Financial Measures in Response to the COVID 19 Pandemic resulted in an extension to the deadline for filing of 2019 tax returns. Under §22 (1) of the Act, a special deadline for filing corporate income tax returns for 2019 was introduced (the period expired or was scheduled to expire during the…
