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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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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 · 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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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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Business and start-ups · August 16, 2023
Is the managing director liable for the company’s debts?
The managing director is an executive body whose right and duty is to manage the company and act on its behalf. When the company is founded, the managing director makes no contribution and takes no part in paying up the share capital. They are not even liable for the company’s debts. The managing director is obliged to perform their duties with due professional care so as to prevent damage to the company they manage.
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Business and start-ups · August 9, 2023
“Warning for entrepreneurs: fraudsters are posing as the tax office and demanding payments!”
ENTREPRENEURS, BEWARE! FRAUDSTERS HAVE ONCE AGAIN SET THEIR SIGHTS ON BUSINESS OWNERS AND WANT TO EXTORT MONEY FROM THEM. Fraudsters exploit security gaps and people’s gullibility in various ways, including fraudulent e-mails aimed at financial gain. Entrepreneurs and companies are among the most common groups of victims of these scams.
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