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Finance and financial management · Business and start-ups · May 4, 2023
Taking money out of an s.r.o.
WHAT ARE THE WAYS OF TAKING MONEY OUT OF AN S.R.O.? Did you finish last year in profit? Have you met your obligations, filed your tax return and paid your tax, and now you do not know how to pay yourself money out of the company? There are several ways you can take money out of your company.
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Finance and financial management · Legislation and amendments · Business and start-ups · Employment and labour law · April 26, 2023
Meal allowance increase in Slovakia: what is changing for employees and self-employed persons from June 2023 (proposal)
The Ministry of Labour, Social Affairs and Family of the Slovak Republic recently published a draft measure on meal allowance amounts (LP/2023/209) on the slov-lex.sk portal. This draft will go through the inter-ministerial comment procedure. The new meal allowance amounts are expected to apply from 1 June 2023.
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Legislation and amendments · Social and health insurance contributions · April 18, 2023
New obligation for employers from 1 January 2023: reporting analytical data on employees to the Social Insurance Agency
From the beginning of the year, i.e. from 1 January 2023, employers have a new obligation to report analytical data on their employees to the Social Insurance Agency (Sociálna poisťovňa). Employers had to do this for all their current employees by the time they submitted the statement for January. This obligation arises from the amendment to the Social Insurance Act No. 317/2018 Coll., which took effect on 1 January 2023.
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Finance and financial management · Social and health insurance contributions · Employment and labour law · April 12, 2023
Minimum pension – the amount I have to pay for a year to count towards my years worked
What is a period of pension insurance? A period of pension insurance is a period for which pension insurance contributions were paid, and it is also counted towards the insurance period for calculating the pension. Entitlement to a minimum pension? When it comes to entitlement to a minimum pension, however, two periods of pension insurance need to be distinguished.
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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 · Employment and labour law · February 8, 2023
The third pillar
The third pillar was the first voluntary, private option for long-term retirement saving. Several supplementary pension insurance companies were set up in Slovakia as early as the late 1990s. After a change in legislation, these were transformed into the supplementary pension companies (DDS) we know today. Investing through a DDS is essentially the same as investing through mutual funds.
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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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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 · 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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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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