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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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Business and start-ups · November 9, 2022
Selling goods abroad through an e-shop – distance selling – OSS
Many businesses have moved online and sell through their e-shops. Expanding abroad used to be more complicated than it is today. It was often very demanding, both administratively and financially, for businesses that shipped to several EU countries.
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Finance and financial management · Business and start-ups · Social and health insurance contributions · Accounting · October 21, 2022
The most common mistakes made by new entrepreneurs
At our company we often come across the same mistakes with new clients. Here are a few of them: FAILURE TO REGISTER WHEN BUYING SERVICES FROM ABROAD The most common mistake is that an entrepreneur fails to meet the registration obligation under Section 7a before receiving a service from an EU country. As a rule, this is advertising, whether from Google or Facebook.
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Finance and financial management · Business and start-ups · October 19, 2022
Voluntary VAT registration
Many entrepreneurs ask whether they can become a VAT payer even if they have not reached the required turnover. Under Section 4(2), a person who does not meet the condition of reaching a turnover of €49,790 or more may also apply for voluntary VAT registration.
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Finance and financial management · Business and start-ups · October 12, 2022
Lower taxes on motor fuels in 2023
Under the proposed amendment to the law, the value added tax rates on motor fuels will be adjusted as of 1 January 2023. As the amendment of 30 September 2022 specifies in more detail, the change is to be made to Act No. 222/2004 Coll. on Value Added Tax, as amended. The change in VAT will apply to both motor petrol and gas oil, more commonly called diesel.
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Finance and financial management · Cryptocurrencies · Business and start-ups · October 10, 2022
New taxation of cryptocurrencies in Slovakia
On 30 September 2022, Act No. 595/2003 Coll. on Income Tax, as amended, was amended by an act that also amends and supplements certain other acts. This act governs income taxes, and its most recent amendment concerns a change in the taxation of income from cryptocurrencies.
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Finance and financial management · Business and start-ups · October 6, 2022
Obligations of a VAT payer
If you are a VAT payer, or are considering the possibility of becoming one, you should know all the obligations that this status entails.
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Finance and financial management · Business and start-ups · September 28, 2022
To be or not to be a VAT payer?
Every entrepreneur has to work out whether it pays to be a VAT payer or not. It all depends on their target group of customers. If they are going to focus on B2B, i.e. selling services or goods between businesses, and will therefore mostly trade with VAT payers, it may be more advantageous for them to be a VAT payer as well.
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Business and start-ups · Accounting · October 27, 2021
In-house accountant or external accounting firm: which pays off more?
In a smaller company the decision is simple. A full-time or even part-time accountant simply does not pay off, because an accounting firm costs you only a few dozen to a few hundred euros a month. But what about larger companies, where the cost of bookkeeping could easily climb into the thousands of euros a month?
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Finance and financial management · Business and start-ups · Accounting · October 20, 2021
Changes in accounting from 1 January 2022
EXPANSION OF THE PUBLIC PART OF THE REGISTER OF FINANCIAL STATEMENTS Under the Accounting Act currently in force, entrepreneurs are required to submit their financial statements electronically via the Financial Administration portal.
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Finance and financial management · Cryptocurrencies · Business and start-ups · October 13, 2021
Gifting cryptocurrencies
Cryptocurrencies are once again becoming a mainstream topic, mainly thanks to the rising price of the strongest of them – Bitcoin. Some time ago, we brought you an article on doing business with cryptocurrencies in Slovakia. But how does it work here when such a virtual currency is given as a gift to an individual or a legal entity?
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