Commentary by Andrew Dickson

With ever changing global tax regulations, an effective, compliant and cost-efficiently managed international mobility program is a critical component of successful talent management and business operations.

An amendment to the Labor Code brings a change, which means that from January 2019 employees may apply to their employer for holiday vouchers.

According to a recent amendment to the act on Prevention of Legalization of Proceeds of Criminal Activity and Terrorist Financing, legal entities must disclose their beneficial (actual) owner in the Commercial register.

In comparison to executive members of a Joint Stock Company (a.s.), managing directors of a Limited Liability Company (s.r.o.) are taxed in a discriminative manner

Reduced VAT rate for accommodation 

The prepared amendment to the Value Added Tax Act proposed by the Slovak National Party will reduce the VAT rate for selected accommodation services with effect from 1 January 2019. The measure should contribute among others to the support of tourism in the Slovak Republic. If the proposed amendment is approved, the VAT rate of 10% will be applied to hotel and similar accommodation services, tourism and other short-term accommodation services, as well as to the operation of camping sites, recreational and holiday camps.