Newsletter June 2011

Judgment of the Bratislava County Court about tax deductibility of non-monetary benefits of employees

     The Bratislava County Court confirmed the connection of non-monetary benefits of employees with realisation of taxable income and according to this, tax deductibility of this costs was also confirmed.

     These benefits are for example rent of houses, garages, payment of  utilities costs, life insurance Premium payments etc, which employer provide to employees or board members. 

      These costs are tax deductible, if providing of this non-monetary benefits is included in contract between employeer and employee or other contract and also if these benefits are taxed in hands of employees.
The Slovak Tax Directorate did not appeal to the Supreme Court, so the decision is final.

Report for Slovak National Bank

       In accordance with Foreign Exchange Act reporting units are required till 1st of August 2011 fill for the National Bank of Slovakia the Report of foreign direct investment in the country and report of the direct investment abroad. 

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