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Slovakia: Tax-Efficient Regimes and Sectors

BACK TO SLOVAKIA INFORMATION: BUSINESS, TAXATION AND INVESTMENT

Slovakia Tax-Efficient Business Forms

The Slovakian government is keen to encourage new investment in the country. Corporate tax relief may be offered to new investors creating employment in the country. Property for carrying out a business can also be available from the State at prices below market value. Grants are available for research and development establishments and job creation – the State may pay as much as 30% of an employee’s wages. Capital gains are taxed at the flat rate of 19% and receive no special treatment.

There is a new scheme for regional State aid, set out in a strategy document covering the period 2007-2013. Most areas, except Bratislava, meet the criteria for State aid in developing regions. New legislation was introduced in 2008.

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Slovakia Tax-Privileged Business Sectors

Income tax incentives are available to foreign investors by way of tax credits against future corporate tax liability. Tax credits must be approved in advance by the Economy Ministry, which has the power to limit the credits. These credits can be up to 100% of the tax liability of the first five years after the year in which profit was made for the first time – this continues at 50% of the tax liability for the following five years. There must be a minimum foreign investment of EUR5m to attract tax credits and the date of incorporation also affects the credits available.

The Slovakian government encourages the creation of Industrial Parks, with incentives and subsidies available for companies who would enjoy the benefit of shared costs and resources. Funding for research and development establishments is also available.

Companies can apply for regional aid and this can be for a new business set-up, expansion or diversification. EU legislation excludes the following sectors from applying for such aid:

  • Transport;
  • Agriculture;
  • Shipbuilding;
  • Fisheries; and
  • The coal industry.

Levels of unemployment in a particular region will determine the amount of aid and the minimum investment required; the minimum investment can range from EUR1m to EUR25m, depending on the type or sector of industry.

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