Privatization
Slovak Prime Minister Vladimir Meeiar expects the privatization process to be finished within 8 months.
VAT Act
The Slovak Government approved an amendment to the VAT Law and has now given it to the Parliament for approval. The amendment will lower the general VAT rate by 2% from 25% to 23%. Some goods and services which are subject to 6% VAT will be subject to 23 % rate. One of the most important changes is that all tourism and accommodation services are transferred from the group liable to 25% VAT to that which is liable to 6% VAT. This proposed amendment should be discussed by Parliament in the middle of November.
Real Estate Tax Bill
The cabinet approved a Real Estate Tax Bill that will improve the competency of local administration. Moreover, it introduces new coefficients used not only for calculating real estate tax in relation to land used for construction but also for computing taxes on other types of land.
The information in this newsletter is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made.
Please address any questions to:
Tax and business advisory services:
Ruth Clamp/Antonin Masaryk
Audit and accounting services:
Santiago Pardo/Alexander Koprda, Arthur Andersen Czech Republic, tel +42 7 5340 545, or enter text search 'Arthur Andersen' and 'Business Monitor'.
Slovak Prime Minister Vladimir Meeiar expects the privatization process to be finished within 8 months.
VAT Act
The Slovak Government approved an amendment to the VAT Law and has now given it to the Parliament for approval. The amendment will lower the general VAT rate by 2% from 25% to 23%. Some goods and services which are subject to 6% VAT will be subject to 23 % rate. One of the most important changes is that all tourism and accommodation services are transferred from the group liable to 25% VAT to that which is liable to 6% VAT. This proposed amendment should be discussed by Parliament in the middle of November.
Real Estate Tax Bill
The cabinet approved a Real Estate Tax Bill that will improve the competency of local administration. Moreover, it introduces new coefficients used not only for calculating real estate tax in relation to land used for construction but also for computing taxes on other types of land.
The information in this newsletter is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made.
Please address any questions to:
Tax and business advisory services:
Ruth Clamp/Antonin Masaryk
Audit and accounting services:
Santiago Pardo/Alexander Koprda, Arthur Andersen Czech Republic, tel +42 7 5340 545, or enter text search 'Arthur Andersen' and 'Business Monitor'.
