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Slovakia Tax Deductions

In Slovakia, deductions and business expenses may be claimed as specified below:
  • Offset of losses - A loss may be utilized for 4 years; There is no carry back of losses.
  • Consolidated Statements - In Slovakia a loss in one company of a group may not be offset against a profit in another company in the group.
  • Thin capitalization rules - There are no thin capitalization rules in place in Slovakia.
  • Financing expenses - As a general rule, interest on credit is allowable for tax. When the interest received in an investee company is in excess of 25% of the borrower's capital, the interest will not be allowable if the amount of the loan is more than 4 times greater than the equity capital of the borrower (6 times, in banks).
  • Transfer prices - Transactions between foreign related parties are allowed only if they are consistent with the fair market price. The transaction has to be conducted with the foreign related party for the price that would be agreed with the unrelated party. Sufficient transfer pricing documentation should be available for entities having transactions with foreign related parties.
Depreciation of Fixed Assets in Slovakia

  • Fixed tangible asset is considered tangible asset with acquiring price over EUR 1,700.
  • Fixed intangible asset is considered intangible asset acquiring price over EUR 2,400.
  • The straight-line method or the accelerated method are the accepted methods of depreciation of fixed tangible assets in Slovakia.
  • The owner of a business may choose the method of depreciation that is most appropriate. The depreciation method can be selected individually for each item of fixed tangible assets.
  • Assets, for purposes of depreciation, are divided into 4 groups. Fixed assets may be written off over a period of 4 - 20 years for tax purposes.
  • Same method of depreciation is applicable for fixed tangible assets acquired through operational leasing.
  • Intangible fixed assets are depreciated according to the useful life of the asset; i.e. tax depreciation is equal to accounting depreciation.

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