TOP 1: AMENDMENT TO THE INCOME TAX ACT

As already mentioned, after a long time, the changes are finally business friendly. We provide a short overview of the most important ones:

A. “Super deduction” of R&D costs increases from the current 100% to 200%. Consequently, a new increase in the number of businesses claiming this relief can be expected. For the last tax period for which data is available (2017), the financial administration records 163 taxpayers claiming the super deduction, while the following companies reported the highest R&D costs and, accordingly, the highest annual tax savings: U. S. Steel Košice s.r.o. (18,472 TEUR), TATRAVAGÓNKA a.s. (2,211 TEUR), Continental Automotive Systems Slovakia s.r.o. (1,508 TEUR), Plastic Omnium Auto Exteriors, s.r.o. (1,348 TEUR),
Siemens s.r.o. (1,215 TEUR) and Siemens Healthcare s.r.o. (1,146 TEUR).

B. The attitude to countries with liberal tax regimes is changing significantly. The term “non-contractual state” is being replaced by “non-cooperative jurisdiction” and refers only to the countries listed on the black list. Currently, only 9 countries are listed on the black list, while none of them is EU-member.