Some changes for entrepreneurs from 1.1.2014

Our law firm has prepared information about some of the changes that year 2014 brings for entrepreneurs:

Income tax

With effect from 1. 1.2014 legal entity Income Tax will decline from the current 23% to 22 %.

Deletion from „blacklist“

In accordance with § 52 sec.6 of Act no. 563/2009 Coll. on Tax Administration {Tax Code} and amendment of certain laws, as amended, that is amending and supplementing certain laws {hereinafter referred to as act} financial directorate on its website publishes an updated list of payers of value added tax for which occurred reasons for deregistration under a special regulation.

Amendment introduces removal of the taxpayer from the list of VAT payers for which occurred grounds for deregistration.Payer of value added tax which is published in the list, financial directorate deletes from this list if fall away the reasons under which he was published in the list and concurrently in the period of 12 consecutive calendar months tax payer did not infringe the obligation of tax inspection, did not breach the obligation to submit a tax return or a control statement, or to pay actual tax liability, was reachable at the registered office, place of business or address of establishment, or if his registration for value added tax was cancelled.

Cash registers

Amendment to the Act on the use of electronic cash registers from 1. 1. 2014 brings new obligations for entrepreneurs.

The entrepreneur is obliged to have at a point of sale located the interface cable to the electronic cash register and submit it to the tax office of customs office for the purpose of connecting the electronic cash register and computer for inspection and export of control lists and content of fiscal memory and allow the tax office or customs office to join the electronic cash register by computer; this does not apply if the connection of the electronic cash register to computer is secured by wireless technology.

The amendment also introduces new information in the book of electronic cash register, the obligation to have shown in store cash voucher or obligation of entrepreneur to submit at the request of the tax office or customs office complete checklists.

Cash deposits at establishing Ltd.

The requirement of a cash deposit in a special account in the bank introduced an amendment to the Commercial Code, effective from 1.12.2013. For more see the following articles:Establishment of Ltd. – repayment of capital to the bank account from 1.12.2013Establishment of Ltd. – change from 1.10.2013Establishment of Ltd. – amendment already in parliament

Tax licenses

On 12.11.2013 members of Smer at the meeting of the Parliamentary Committee for Finance and Budget approved the amendment to the amendment of the Income Tax that introduces a new tax on companies (so. tax licenses). The introduction of tax licenses Minister of Finance justified by more equitable taxation of companies that have long been avoiding paying taxes. He also expects cleaning up the commercial register.

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