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THE SHVARCSYSTEM – SCAREMONGERING BY LEGAL ADVISERS OR A REAL RISK? As a transactional lawyer, I deal with this on a regular basis. As part of our legal and tax due diligence of target companies, contracts with “full time” contractors are a regular finding. My colleagues and I always analyse in detail how real the […]
🎶Only 22 days to go so don’t forget, time is running out…🎶 In exactly 22 days we will see you at the conference “Schvarc system” (employing freelancers – where is the limit?) You know how it is. You want to employ a person who asks for 2.000€ net. Either you employ him in a trade […]
€2,000 gross vs €2,000 invoice = €1,492 net vs €1,867 net = €2,724 employer cost vs €2,000 “employer” cost That’s without social contributions. With social contributions, that net income would be €1 684 (16% effective rate). If the invoice amount was EUR 2 724 (+- same cost for the “employer”), the net income including social […]
So what about the taxation of ETFs? The Financial Administration’s statement in 2021 scared perhaps all Slovak investors in ETF funds. It indicated that it does not apply “always and everywhere”, that the sale of ETF funds is not taxed after one year and stated that the taxpayer (meaning also the FO investing EUR 20 […]
I WILL NEVER WORK ON A TRANSACTION LIKE THAT AGAIN! ..I said to myself in 2016, when I left Allen & Overy after the agreement on the sale of 66% stake in Slovenske elektrárny to EPH Group. It was one of the largest M&A transactions in Slovakia and for me personally the most complex I […]
Can I sell my flat for €1,000 and the movables in it for €199,000? 👉 The sale of real estate is taxable within 5 years for FOs. 👉 The sale of movables is not taxable for FOs. So there is no need to write further about the motives for such a split of the purchase […]
Capital markets law in Slovakia in 2024 After the “legislative whirlwind” at the end of the previous parliamentary term, we are starting this year with a new government and therefore with a new plan of legislative tasks. Financial regulation is largely harmonised and therefore most of the new legislation will be the result of the […]
TAX LIABILITY CHECKLIST, which you will not want to deal with at the beginning of the year: ✅ Preparing Personal Tax Returns ✅ Preparation of Corporate Tax Returns ✅ Processing of Motor Vehicle Tax ✅ Property Tax processing ✅ Confirmation of transactions between dependants ✅ Reconciliation of 1% tax remittance ✅ Numbering of invoices in […]
A new podcast from Highgate Law & Tax, this time on the topic of taxation of ESOPs with Jaroslav Bukovina from the Research and Innovation Authority (VAIA) and Peter Cmorej (former Member of the Slovak Parliament). In the period between October 2023, when I posted a critical commentary on its wording here (see below the […]
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