The government on September 11, 2024, submitted to Parliament draft legislation amending the Pillar Two rules that were enacted in Slovakia in December 2023.
The proposed amendments relate to:
- Financial accounting standard to be used for calculating the domestic minimum top-up tax
- Adoption of permanent safe harbor for non-material constituent entities and proposed changes to the transitional country-by-country (CbC) reporting safe harbor
- Incorporation of several elements of the OECD’s recent administrative guidance (e.g., additional guidance on the substance-based income exclusion, treatment of marketable transferrable tax credits, and the equity investment inclusion election).
The proposed amendments would become effective as of December 31, 2024.
Read an October 2024 report prepared by KPMG’s EU Tax Centre