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Finance and financial management · Business and start-ups · Accounting · September 28, 2023
LAST DAYS TO RECLAIM VAT PAID ABROAD. APPLICATIONS CAN BE FILED BY 30 SEPTEMBER 2023
Entrepreneurs who are VAT payers can also purchase inputs abroad in the course of their business. A typical scenario is refuelling in another European Union country, buying small items needed for the business, restaurant services, taxis and the like. In such cases, the entrepreneur pays the full price of the goods or service abroad, including the foreign VAT.
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Accounting · September 21, 2023
The cloud in accounting – advantages and disadvantages
Advantages and disadvantages of using the cloud to handle business administration and accounting. In today’s era of digital transformation, many companies are turning to cloud solutions to handle their business administration and accounting. The cloud brings a range of benefits that can modernise business processes and make them more efficient.
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Finance and financial management · Business and start-ups · Social and health insurance contributions · Accounting · Employment and labour law · September 15, 2023
Working with an external partner
WHAT ARE THE ADVANTAGES AND DISADVANTAGES OF USING AN EXTERNAL COMPANY FOR ACCOUNTING AND PAYROLL? In today’s fast-paced and competitive business environment, many businesses are turning to new strategies to improve efficiency and reduce costs. Outsourcing, that is, entrusting certain business functions to third parties, is one such strategy, and it is becoming increasingly popular.
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Finance and financial management · Business and start-ups · Accounting · Employment and labour law · August 24, 2023
“Business news: setting the minimum wage for 2024 and changes in penalties for tax breaches”
Minimum wage 2024 On 21 August 2023, employer and employee representatives agreed on the amount of the minimum wage for 2024. The minimum wage for an employee paid a monthly wage will be €750 (this applies to the first level of work difficulty). The minimum wage for each hour worked by an employee with a set weekly working time of 40 hours will be €4.310.
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Finance and financial management · Cryptocurrencies · Legislation and amendments · Accounting · July 5, 2023
Changes in the taxation of cryptocurrencies and other investment instruments
In April 2023, a group of Members of the National Council of the Slovak Republic submitted to parliament a bill amending and supplementing Act No. 595/2003 Coll. on Income Tax, as amended, and amending and supplementing certain acts. The amendment passed its third reading on 28 June 2023 and takes effect from 1 January 2024.
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Finance and financial management · Legislation and amendments · Accounting · Employment and labour law · June 7, 2023
Changes to wage supplements and various pay benefits from 1 June 2023
After more than 2 years, the amounts of wage supplements are changing. The fixed supplement amount will change to a percentage of the hourly minimum wage. So from 1 June 2023, supplements will once again be linked to the hourly minimum wage as a percentage.
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Finance and financial management · Business and start-ups · Accounting · May 17, 2023
Payouts from other capital funds
IS A PAYOUT FROM A COMPANY’S OTHER CAPITAL FUNDS TAXABLE INCOME? Income from a payout of other capital funds, if it accrues to an individual, is taxable income that forms part of other income under Section 8 of the Income Tax Act.
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Business and start-ups · Accounting · Employment and labour law · Legislation and amendments · February 22, 2023
Changes in the law that affect every one of us
Increase in the tax bonus for a dependent child. From 1 January 2023, the amount of the tax bonus changed: for a dependent child up to the age of 18 – €140, for a dependent child over 18 – €50. Introduction of a minimum employee health insurance contribution. From 1 January 2023, a minimum employee health insurance contribution was introduced.
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Finance and financial management · Social and health insurance contributions · Accounting · Employment and labour law · February 6, 2023
The first pillar and the old-age pension
Every working citizen who is required to pay contributions to the Social Insurance Agency (Sociálna poisťovňa) contributes to the first pillar. The first pillar is built on the principle that the money collected through contributions is used to fund the pensions of today’s pensioners. The money is not saved in the citizen’s own individual account, as it is in the second or third pillar.
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Business and start-ups · Accounting · Employment and labour law · February 1, 2023
A trade licence alongside employment
With health insurance contributions the situation is different, in that a sole trader who has both a job and a trade licence at the same time is not obliged to pay monthly advance payments on health insurance in respect of the business. This is because they already pay such advance payments through their employment. As a sole trader alongside employment, however, they can pay the advance payments voluntarily.
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Business and start-ups · Social and health insurance contributions · Accounting · November 16, 2022
All about the trade licence
A trade licence is one of the most widespread forms of doing business in Slovakia. Setting one up and closing it down is quick and costs almost nothing. However, that does not mean you do not have a number of obligations connected with doing business under a trade licence, which is why we have summarised everything you should know about trade licences.
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Finance and financial management · Accounting · October 26, 2022
The minimum wage in 2023 will be €700
The minimum wage in Slovakia goes up every year, and from 1 January 2023 it will be €700. Over the last 10 years, the minimum wage has increased more than twofold. You can see how the minimum wage has developed over the years in the table below.
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