Act On Small And Medium-Sized Enterprises, VAT Act

According to the former Act, small and medium-sized enterprises are provided with financial support from the state budget which is determined for this purpose on the basis of approved support programs. Small enterprises are physical persons with residency doing business in the Slovak Republic, which employ up to 24 employees. Medium enterprises are persons or legal entities employing up to 24 employees. Medium enterprises are persons or legal entities employing up to 500 employees under the same conditions. The support is rendered in the form of credits/loans, guarantees, payment of interest, contributions under special regulations, donations and other financial support must be sent to the appropriate Ministry or other institution established for this purpose.