In the current issue of Tax & Legal News we would like to draw your attention to the following highlights:
New Methodological guideline on employees’ meal allowance and the planned increase in meal allowances
The Financial Directorate issued a Methodological guideline detailing the various forms of providing meals to its employees. It also mentions the planned increase in meal allowances for business trips, which will also have impact on the amount of the tax-free meal allowance.
Transfer pricing in a rapidly changing environment
The current economic development has a significant impact on the functioning of many companies. The main topic of recent months is a high inflation. However, there are several other factors that affect companies' transfer pricing policies.
Act on on certain extraordinary measures in connection with the situation in Ukraine was published in the Collection of Laws
The Act on certain extraordinary measures in connection with the situation in Ukraine was published in the Collection of Laws on Saturday, February 26th.
How to prove online advertising expenses?
The tax deductibility of advertising costs is often subject to review of the tax authorities. In addition, the current digital age also brings new challenges in this area.
European Commission has proposed a directive to prevent the misuse of shell entities
European Commission („EC“) has published a proposal Directive „Unshell“, which sets out the rules to prevent the misuse of shell entities for improper tax purposes. This initiative will ensure that companies with no- or minimal economic activity are unable to benefit from any tax advantages.
Extended deadlines for tax reliability index
On 22 February 2022, an amendment to the Financial control and Audit Act, which amends also the Tax Administration Act (Tax Code), was published in the Collection of Laws. The parliamentary amendment introduces a change in the deadlines for notification on the tax reliability index.
Changes ahead for thin capitalization rules
The Ministry of Finance has published preliminary information on the amendment to the Slovak Income Tax Act, which implements the Interest Limitation Rule from the Anti-Tax Avoidance Directive (ATAD 1). The new rule will regulate the rules of tax deductibility the so-called exceeding interest costs, i.e., interest costs in excess of interest income, irrespective whether they originate from related parties.
