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Slovakia

Company Formation and Related Services

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Buying a European shelf company with VAT number

Whenever you need to start doing business immediately in a European country and you need a company with a VAT number, you don’t have to wait for the bureaucratic procedures.

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Partner Law Firms

We encourage you to contact our partner law firms in Bucharest: Rolegal and E&C, both part of our legal network.

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Tax Minimization Structures

BridgeWest is specialized in special corporate structures designed for tax minimization. No matter where you want to incorporate your company, you will need to consider how you can legally minimize costs.

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Paying Taxes in Slovakia

August 17, 2011, 4:47 pm
BridgeWest

1. What is the corporate tax in Slovakia?

A company that is registered in Slovakia has to pay a 19% corporate tax rate.

 

 

2. What is the VAT in Slovakia?

The VAT rate in Slovakia is 20%. A reduced VAT rate of 10% applies for medical and pharmaceutical products. Services such as insurance are exempt from VAT.

 

 

3. How can the VAT be refunded in Slovakia?

An application for VAT refund can be submitted to the tax authorities from Slovakia, in case of a non EU member and the period covered by the claim cannot be less than a year. The amount for which the claim is elaborated has to be at least 50 EUR. It can also be submitted electronically through the tax portal of the resident country if the claimant is from an EU country. The period covered by the claim cannot be less than three months but not higher than one year(the amounts for which the claim is elaborated has to be higher than 400 EUR for a period of three months or at least 50 EUR for a period of a year). The invoices have to be added to the electronic form by uploading a scanned copy. The decision of retuning the amounts is taken no longer than six months and the refund is made in 10 days from the decision.

4. What is the dividend tax in Slovakia?

In Slovakia no withholding tax is applicable to dividents.

5. What are the taxes rates applied on other payments?

In Slovakia, interests and royalties paid to nonresidents are subject to a 19% withholding tax, unless various treaties’ provisions apply. There are no withholding taxes on technical service fees and the branch remittances are not taxed.

 

6. Are there any incentives for foreign investors in Slovakia?

Slovakia encourages foreign investments and developed a package of incentives for investors that come from abroad. If the company meets the requirements mentioned in the law, it can apply for grants and tax credits. Anyway, Slovakia is an attractive point of investments, since it provides a skilled labor force, double taxation prevention treaties and efficient access to European cities.

 

 

7. Why do I need a local accountant for my local business in Slovakia?

When you set up a business in Slovakia, you need local support from a very good and skilled consultant, so it is advisable that you hire one from the start. Since the tax system is quite complex in Slovakia, only a local accountant with experience will be able to provide you accounting services at the highest standards.

BridgeWest offers Company Formation in Slovakia.




Open Business in Slovakia
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