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Major Income Tax Act revision delays fight against tax evasion

Parliament approved a major revision to the Income Tax Act. It brings new measures to fight tax evasion; starting in 2022, it will impose a 25% tax rate on the profits of companies owned by Slovaks in a few tax havens (so-called CFC rules). The tax authority FS will calculate the value of tax advances. Companies with revenues under €50,000 will pay a 15% income tax rate (€100,000 previously). The interest rate applied on delayed tax payments and when paying income tax in installments is being cut to 3% from 10%. The tax break for 13th and 14th salaries is being eliminated. Buildings used to house own employees will enjoy faster depreciation. Instead of free school lunches, a tax bonus for children up to 15 years of age is being increased by 70-100%. The coalition kept the tax exemption of travel vouchers but eliminated the tax break for spa holidays.


Táto správa je z Ekonomiky DNES, denného prehľadu najdôležitejších ekonomických správ zo Slovenska.

This news is from the Slovak Business News TODAY, one-page summary of all the important Slovak business news.

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