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Finance and financial management · Employment and labour law · February 13, 2024
Employee annual tax reconciliation for 2023
All individuals whose taxable income in 2023 exceeded half of the non-taxable portion of the tax base will have to settle their tax liability for 2023 (in 2024). In 2023, the non-taxable portion of the tax base is €4,922.82.
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Finance and financial management · Business and start-ups · January 24, 2024
How can you take money out of an s.r.o. without paying tax or contributions?
If your business made a profit in the previous year, do not pay it out to yourself as dividends, and you will avoid the withholding tax on dividends. Save on tax. Move the profit into the social fund and pay yourself a generous cash meal allowance from this fund. Even if it were €200 a day, it is income exempt from tax and social and health insurance contributions.
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Finance and financial management · Business and start-ups · January 17, 2024
What are my tax obligations in January?
The start of a new year brings not only renewed plans and commitments but also the tax obligations that await us at the beginning of January 2024. As the start of the calendar year approaches, taxpayers face a range of tasks and responsibilities relating to their tax obligations.
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Finance and financial management · Business and start-ups · Accounting · December 21, 2023
Closing the 2023 accounting year
Closing the accounting year means you are required to prepare financial statements for 2023. The preparation of the financial statements is preceded by the closing of the books, together with the related stocktaking and the closing of the individual accounts in the general ledger under double-entry bookkeeping. Closing of the books: – the process by which all accounts in the ledger are closed at the end of the accounting period, – carried out at the end of the accounting period (at the end of a month, quarter or year).
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Finance and financial management · Business and start-ups · Legislation and amendments · December 6, 2023
Tax licence? Higher taxes for entrepreneurs? Minimum corporate income tax?
On Monday, 4 December 2023, the government approved a draft law that brings higher taxes for entrepreneurs, the introduction of a minimum corporate income tax and a new concept of the tax licence. These steps are intended to improve the state of public finances and strengthen the financial position of the state.
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Finance and financial management · Business and start-ups · November 27, 2023
The importance and benefits of trade credit insurance in business. Securing a company’s financial stability and growth
In today’s dynamic business environment, companies face constant challenges in managing their finances and maintaining a stable cash flow. One of the strategies businesses can use to protect their finances is trade credit insurance. This form of insurance offers protection against clients who do not pay or pay late, and it can have a significant impact on a company’s financial stability and growth.
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Finance and financial management · Business and start-ups · Accounting · November 8, 2023
Switching to a financial year: when and how to change the tax period?
HAVE YOU CONSIDERED CHANGING YOUR TAX PERIOD FROM A CALENDAR YEAR TO A FINANCIAL YEAR? A change of the tax period from a calendar year to a financial year is possible under Section 3(5) of the Accounting Act.
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Finance and financial management · Legislation and amendments · Business and start-ups · October 25, 2023
The European DAC7 directive
The European DAC7 directive, approved by the European Parliament and the Council of the European Union on 22 March 2021, aims to make tax administration in the digital economy more effective. The directive introduces new obligations for operators of digital platforms, designed to increase the transparency of the income of sellers of goods and services who use their services.
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Finance and financial management · Business and start-ups · October 5, 2023
Who has to record sales through eKasa and who does not?
The ERP Act (Act No. 289/2008 Coll. on the Use of Electronic Cash Registers, as amended) sets out precisely which entrepreneurs are required, and which are not required, to record their sales through an eKasa cash register and send them to the Financial Administration. How can an entrepreneur decide? Every entrepreneur has two options.
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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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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 · Employment and labour law · September 6, 2023
Employing minors
With the new school year, which got under way this very week, comes an important topic: the employment of young people in Slovakia. Education and work go hand in hand for young people, which is why it is important to know the legal aspects and obligations relating to the employment of minors. Both of these spheres have an impact on the future of our young people.
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