Insights

Slovakia: Implications of the recent election on tax policy

Editorial Team 12 Oct 2023

An analysis by BMB Partners, Taxand Slovakia

Our Slovakian firm BMB Partners has released the latest edition of its newsletter, leading with a response to the recent Slovakian elections. They argue the business and tax outlook is positive as there is no risk that the administration and economy will be frozen due to the so-called ‘public debt break’, and no far right party was elected. No radical changes in Slovakia‘s foreign or business policy are expected and markets have responded calmly, with all 3 major parties declaring stability as their main priority, including the taxation of employment and business income. The only potential exceptions may be windfall taxes in selected industries, VAT or excise duties. In general, it is expected that EU law including its directives will be followed and therefore the draft law on top-up tax in Slovakia will be approved by parliament by the end of this year.

The newsletter covers the following topics:

• Draft Law on Top-Up Tax (Pillar Two)
• June Amendment to the ITA + Impact of the Company Conversions Act on Taxation
• Draft Amendment to the VAT Act
• Tax Directorate Guidance on Beneficial Owner
• Planned Changes to the Accounting Act in relation to ESG Reporting
• Taxation of Labour vs. Capital Income according to OECD
• Czech Judgement in a Transfer Pricing Case
• Current Pillar One Developments
• Draft Directive on Faster and Safer Relief of Excess Withholding Taxes
• New Version of BEPS MLI Matching Database

The full newsletter can be found here.

Article tags

Slovakia | Tax Policy