On 10 July 2017, the OECD released a new revised edition of its Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The introduced changes are significant globally since the OECD Guidelines represent the major and most reputable regulation resource on transfer pricing. The new edition especially includes the changes that were approved during 2015…
The amount of the living wage, that had not changed over the last 4 years due to low inflation, increased from 198.09 EUR to 199.48 EUR as of 1 July 2017. In practice, it means that social benefits will be moderately increasing and tax burden will decrease as of 2018. In 2018, the nontaxable part…
The draft amendment of the Commercial Code that is presently undergoing a process of interdepartmental marking up features several novelties and adjustments that, once passed, are to become effective as of 1 January 2018. The proposed changes follow from the action plan of the fight against tax fraud that the Slovak Republic is also committed…
The Register of Public Sector Partners is a list of legal and natural persons entering into a legal relationship with the government with a fulfilment above the limit set by the law. The register is kept in the electronic form and all the information included in it is considered legally binding. After considering all legal…
Consulting company HEXECO, s.r.o. began to provide consulting services in the field of telecommunication and IT services as one of the first companies in Slovakia. Primarily from the economic point of view. The customer often feels like he does not even know what he is paying for. Routinely, he gets a business agent (“advisor”) from…
The online store or “e-commerce” is an increasingly popular form of supplying products or services via the Internet, i.e. “online”. Selling over the Internet is characterized by being performed “online” regardless of national boundaries. However, certain restrictions may be associated with national regulations of the individual Member States. Pursuant to the Slovak legislation, a service…
Selling goods through an e-shop is a fast and popular form of trading. From the point of view of value added tax (VAT), this form does not require any special adjustment. Nevertheless, its operation has some specifics that need to be known and respected. Here are three areas that you should know about with regards…
If the provider of radio and TV broadcasting, telecommunications and electronically provided services registers oneself into the special regime of one administration spot, the so-called Mini-One-Stop-Shop (further “MOSS”), the provider avoids the lengthy liability process to register for VAT in each Member State of the establishment of its end customers. With effect from the 1st…
More and more entrepreneurs are using the possibilities of the Internet for increasing the turnover with the help of their own e-shops. If it is profitable and the goods are delivered into the other Member States of the EU, it is necessary to keep all of specifics in mind. The risk in submitting the wrong…
Brief overview of treatment As part of Action 13 to re-examine transfer pricing documentation, the Slovak Republic signed along with thirty other countries a document on automatic exchanging of information – “Country-by-country (CbC) reporting” – on 28 January 2016. CbC reporting rules apply to large multinationals with consolidated annual turnover above 750 million EUR. These…