The companies have a statutory obligation to submit for approval their financial statements of the previous accounting period. Then the approved financial statements shall be submitted to the Collection of Deeds. What is the threat of a fine for non-compliance?
Accounting and finance
Let us emphasize the obligation of statutory bodies to draw up a report on relations between the controlled and controlling entity, set by the Act on Business Corporations. The report should be prepared within 3 months after the end of the accounting period.
Nowadays, businesses often give shopping vouchers, gift vouchers, or various type of coupons in order to boost their sales. Under the current VAT regulations, the VAT rating of vouchers is very favorable, since the sale of vouchers does not fall within the taxable transactions.
The deadline for submitting applications for registration of a VAT group is nearing. Should the group be a VAT payer from January 1st, 2019, the application must be submitted by October 31st, 2018. Read more in our article.
Due to the difficulties faced by the companies in implementing the electronic cash registers triggered by both the producers/distributors of electronic cash registers and tax authorities, by delaying the publishing of technical procedures, the application of penalties for the companies that do not use electronic cash registers was postponed.
Are you wondering about the most significant changes in the Slovak legislation with the arrival of 2018?
A new period starts from the middle of 2018, regarding to the relationship between entrepreneurs and tax authorities. The online system, which provides real-time data transmission of invoices, was originally scheduled to be implemented as of 1 July 2017, and is expected to be in operation this July 1, 2018.
On November 10, 2017, was published the Emergency Ordinance 79/2017 on the amendment of the Fiscal Code. Find out what are the most important changes!
The Country by country reporting – CBCR – is a considerable part of the Base Erosion and Profit Shifting (BEPS) program of OECD. Most of the EU countries have already implemented the new rule, while Hungary adopted it to the Hungarian legislation only in the last minute, during this summer. The related forms have been published as well in the meantime.