Since January 1st 2014, a uniform Register of Financial Statements maintained by the Ministry of Finance of the Slovak Republic has come into force. The uniform Register seeks to decrease the administrative burden of entrepreneurs connected with the statutory duty of deposit and publishment of financial statements.
Approved as well as non-approved financial statements have to be filed into the Register, while documents in paper form shall be filed through the respective Tax Office and documents in electronic form shall be filed through the portal of Financial Administration.
Pursuant to the Article 40 par. 1 of Act No. 513/1991 Coll. Commercial Code, the statutory duty to file the approved financial statements still applies for LLC, joint stock companies and other subjects specified by law.
Most of the companies will file the non-approved financial statements together with their corporate income tax return. Therefore they will meet their obligation additionally – by filing of the notification about the date of approval of the financial statements in the Register.
Fulfilment of the filing and publishment obligations is regulated by the Article 23b par. 5 of Act No. 431/2001 Coll. on Accounting, while its wording is as follows: „By delivering documents (according to Article 23 par. 2) and notification (according to Article 23a par. 4) to the Tax Office or into the electronic filing system (pursuant the par. 3) or via the State Treasury, the accounting entity is considered to have met the obligation to file and publish documents and notification.”
The notification about the approval of financial statements needs to be filed within 5 working days.
Companies which are subjects to the statutory audit are not anymore obliged to publish the approved financial statements in the Official Gazette.
Base on the above mentioned, the statutory duty to file and publish financial statements is met by delivering documents and notification to the Tax Office or in the Electronic Filing System.
However, companies are still obliged to approve the financial statements by the General Meeting (or by the decision of the sole shareholder exercising the powers of General Meeting).
Consequently, it is sufficient to deliver the notification on the date of approval of the financial statements into the Register, i.e. it is not necessary to deliver the meeting minutes or any other statements (except from documents which are prepared later or which has not been filed to the Tax Office together with the tax return, e.g. Annual Report).
Contact Monika Vrabcová Associate Monika.Vrabcova@accace.com
