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Legislation and amendments · Business and start-ups · Employment and labour law · August 4, 2023
Another increase in the meal allowance in 2023 – draft legislation
The meal allowance amounts for business trips were last adjusted by Measure No. 171/2023 Coll. of the Ministry of Labour, Social Affairs and Family of the Slovak Republic on meal allowance amounts, effective from 1 June 2023, on the basis of the price index for food and non-alcoholic beverages in restaurant catering for January 2023. We informed you about this, and you can read about the latest change to the legislation here.
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Finance and financial management · Employment and labour law · July 28, 2023
Wage deductions – enforcement after 1 July 2023. How will the increase in the subsistence minimum affect wage deductions?
Wage deductions are a means of enforcement by which a court bailiff reaches into the debtor’s net income, specifically their wages as an employee. In practice, this means that if the debtor does not repay their debt, the employer pays them only part of their net salary on the basis of an enforcement order.
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Finance and financial management · Legislation and amendments · Business and start-ups · July 19, 2023
Amendment to the Cash Payments Act effective from 1 July 2023
Act No. 394/2012 Coll. on the Limitation of Cash Payments, which sets out rules on restricting the use of cash payments, took effect on 1 January 2013. An amendment to this act, effective from 1 July 2023, has unified the restriction on cash payments at a value exceeding €15,000 for both individuals and legal entities.
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Legislation and amendments · Business and start-ups · Social and health insurance contributions · Employment and labour law · July 12, 2023
Overview of legislative changes effective from 1 July 2023
Increase in the basic allowance for each 1 km driven from 1 July 2023 Measure of the Ministry of Labour, Social Affairs and Family of the Slovak Republic No. 247/2023 Coll. of 27 June 2023 changes the amounts of the basic allowance for the use of road motor vehicles on business trips with effect from 1 July 2023.
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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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Business and start-ups · June 28, 2023
Mandatory information on a website
It is common practice for companies to have their own websites. A website improves the company’s image, creates room for promoting the company and is often also the first point of contact with the company. However, running a website also comes with certain obligations. These arise mainly from the Commercial Code (Act No. 513/1991 Coll.).
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Finance and financial management · Business and start-ups · June 21, 2023
Transferring assets from a sole-trader business to an s.r.o.
When we start a business and are not sure whether it will work out, we usually choose the simpler form of doing business, i.e. a trade licence. But what should we do if things are going well, we have a high turnover and we do not want to pay high social and health insurance contributions? To save money, we decide to switch to a limited liability company (s.r.o.). But what should we do with the goods and assets we bought under the trade licence?
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Legislation and amendments · June 14, 2023
Abolition of licence fees from 1 July 2023
Licence fees – in other words, fees that affected every single one of us. They are used to fund Slovakia’s public service television and radio broadcaster (RTVS). These fees are paid by households and also by employers who employ 3 or more people in an employment relationship. This includes employees on maternity or parental leave.
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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 · Legislation and amendments · Business and start-ups · Employment and labour law · May 31, 2023
Employing people for seasonal work from 2023
Employing people for seasonal work from 2023 From 2023, employers who need to hire people for short-term work have the option of concluding an agreement on work activity for seasonal work.
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Finance and financial management · Legislation and amendments · May 24, 2023
Subsistence minimum
WHAT SHOULD THE SUBSISTENCE MINIMUM BE FROM 1 JULY 2023? As every year, the subsistence minimum is going up again, with one change: the way the subsistence minimum amounts are calculated. The amendment to the Act on Assistance in Material Need was approved with several changes concerning the mechanism for indexing the subsistence minimum amounts.
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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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