Tax & Legal News
Welcome to the latest issue of Deloitte Slovakia’s Tax & Legal News. This publication provides you the latest information from local and international tax and legal areas.
- Take part in the latest CFO survey open until the end of October
I would like to remind you that you are invited to participate in Deloitte’s Deloitte’s Central European CFO Survey. The fifth edition of the survey will analyse the views of leading CFOs from within Slovakia and across the region and can serve as a benchmark for gauging CFO attitudes on a number of strategically important issues.
The publication will be launched at the beginning of 2014 and will provide the Central European business community with an objective overview of the key factors at play in driving the region’s economies forward.
The questionnaire will not take more than 5 minutes to complete and your responses will remain completely confidential.
<< Open the questionnaire >>
Thank you in advance for your help and support in this exciting initiative. We will send you a copy of the report prior to its publication.
- Results of Regional Tax Certainty Study
Almost 1000 respondents from 25 European countries participated in the survey conducted this summer. The study focused on three key areas – relationships with tax authorities, tax audits and perception of tax certainty. Click here to find out more about tax changes and concerns in different countries, including Slovakia.
In this issue:
- Amendment to the Act on Supplementary Pension Saving
On 13 September 2013, an amendment to the Act on Supplementary Pension Saving was adopted to implement several significant changes in supplementary pension saving. The amendment will become effective on 1 January 2014.
- Instruction of the Financial Directorate of the Slovak Republic on Filing Amended Personal Income Tax Returns
The Financial Directorate of the Slovak Republic published its instruction on filing amended personal income tax returns without levying sanctions and on filing amended personal income tax returns after the annual reconciliation of advances of tax on income from dependent activities.
- Information of the Financial Directorate of the Slovak Republic on the Possibility of Refunds of Overpaid Tax Caused by Health Insurance Payments
The Financial Directorate of the Slovak Republic published the information on the taxable person’s possibility of filing an amended tax return due to health insurance arrears resulting from the annual reconciliation of health insurance.
- Information of the Financial Directorate of the Slovak Republic on VAT Returns Filed by Persons that Failed to Meet their Obligation to File a Request for Registration for VAT Purposes or that Filed the Said Request after the Deadline
The Financial Directorate of the Slovak Republic published the information on reporting overpaid tax in the VAT return by persons that failed to meet their obligation to file a request for registration for VAT purposes or that filed the said request after the deadline.
- Decisions of the Court of Justice of the European Union in the Area of VAT
- C-283/12 Serebriannăj vek EOOD – Provision of Services for Consideration
A Bulgarian company concluded an agreement with the owner of immovable property under which it used the property without the obligation to pay rent; however, the company undertook to repair and furnish the property. The CJ EU has stated that if there is a direct link between the supply of goods or the provision of services and the consideration actually received by the taxable person, the performance is classified as a performance for consideration. According to the CJ EU, in the reviewed case, the company supplied services for consideration, which was the acquisition of the right to use the property free of charge.
- C-388/11 Le Crédit Lyonnais – Assessment of the Possibility of Taking into Account the Turnover of Branches in the Calculation of the Deductible Proportion of VAT of the Principal Establishment (VAT Coefficient)
LCL was forbidden from taking into account interest on loans granted to its branches and the turnover of its branches in the calculation of the deductible proportion of VAT (the VAT coefficient). The CJ EU has stated that the turnover of branches located in other Member States or third countries cannot be taken into account in the calculation of the principal establishment’s VAT coefficient.
One of the objectives of the amendments being prepared by the Ministry of Finance of the Slovak Republic is to reduce the administrative burden for business entities. There is also a proposal to introduce one state printing plant for control marks. Designation with control marks should be introduced for all tobacco products and the raw tobacco (dried tobacco leaves) should also be subject to tax.
- C-283/12 Serebriannăj vek EOOD – Provision of Services for Consideration
- e-Government Act Adopted
Pursuant to the new act, communication between citizens, business entities and public authorities should be faster and more efficient. Under the e-Government Act, which was adopted in early September and that will become effective on 1 November 2013, public authorities will be obliged to accept electronic filings and to send responses thereto in the same form.
- Minimum Wage Will Increase by 4.2% Next Year
The minimum wage for 2014 will increase by approximately 4.2%, ie to EUR 352 per month from the current EUR 337.70.
- Prepared Amendment to the Act on Consumer Protection in Door-to-Door and Distance Selling
The amended Act on Consumer Protection in Door-to-Door and Distance Selling should prevent deceptive and unfair commercial practices vis-à-vis consumers.
- Notification of a Change in Electronic Communication
As of 1 January 2014, it will be impossible to deliver filings to the financial administration by electronic means under the “Agreement on the Method of Delivery of Documents Delivered by Electronic Means” concluded in the past. The selected group of taxable persons will ensure the meeting of their obligation to deliver documents by electronic means as of 1 January 2014 through the relevant tax administrator by concluding a new agreement or they will deliver documents signed by an advanced electronic signature.
- Changes in Transfer Pricing
A draft amendment to the Income Tax Act was submitted to the National Council of the Slovak Republic. The draft amendment contains several fundamental changes in transfer pricing with respect to the selection of the transfer pricing method, the submission of transfer pricing documentation and decisions on approving the transfer pricing method.
- Deloitte DBriefs
We would like to invite you to take part in Dbriefs – live webcasts (podcasts) on current tax topics. The next topics include:
Transfer Pricing Benchmarking Analysis – Adjusting for Risk
30 October 2013, 13:00
Transfer pricing audits increasingly focus on how the contractual and commercial risks borne by parties to an intra-group transaction are taken into account in analysing and pricing that arrangement. For some transactions, it may be appropriate to adopt a bespoke methodology to adjust for risks when undertaking transfer pricing benchmarking analyses. What factors should your organisation take into account?
Polish VAT Reform: The Impact of Upcoming Changes
6 November 2013, 13:00
Changes to the VAT law in Poland will come into force on 1 January 2014. These changes are wide-reaching and significant, affecting most business operations in Poland. What will the impact of the changes be on multinational businesses operating in Poland, including through shared service centres?
A complete overview of the topics is available at http://www.deloitte.com/emea/dbriefs, where you can also register your participation.
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