Accounting and Tax Compliance Services in Slovakia

Working with our local experts can help you overcome challenges and head for success. Accounting in Slovakia is triggered by filing requirements of the statutory financial statements, tax filing requirements and corporate law requirements.

In Slovakia, TMF Group can help you with:

  • Statutory bookkeeping: Maintaining your books and records in accordance with local rules and directives, and preparing and filing all required reports and specifications (e.g. the annual financial statements and the annual report to regulatory bodies). The bookkeeping can be maintained using our accounting software or yours, from our office or at your premises, as per your preferences and requirements.
  • International management reporting: Tailored to your individual requirements in terms of formatting, currency, language, frequency and accounting standards (including IFRS/IAS, US GAAP, UK GAAP, and any other GAAP).
  • Consolidated reporting: Monthly, quarterly and yearly assistance in preparing output accounting reports and accounting reconciliation, including the reconciliation between statutory and (company or group) management reports.
  • Specific projects: Reorganising accounting systems, assisting with the implementation (localisation) of accounting software packages and establishing accounting control procedures.
  • Administrative support: Assistance with the preparation of your payment orders, the issuing of your customers’ invoices and the archiving of your accounting documentation, as well as the preparation of statistical reports required by the local statistical office and National Bank of Slovakia.

For companies doing business across borders, tax is fast becoming one of the single largest compliance burdens and expense items. Pressured governments around the world see raising taxes, or increasing audits and administrative requirements to trigger fines and interest penalties, as key components to supporting their revenue bases.

Factor in the lack of harmonisation between jurisdictions and the burden can quickly seem overwhelming.

Talk to us about your needs, and let TMF Group clear up the confusion.

Tax compliance

Our Slovak team can provide you with the following tax compliance services:

  • CIT registration of the entity
  • Registration with tax authority
  • Assistance with tax calculations and settlements with the tax authorities
  • Preparation and submission of tax declarations
  • Managing filings and payments through local bank accounts
  • Taking care of parafiscal charges and stamp duty
  • Handling queries from the authorities, including managing tax audits
  • Handling basic questions, notices or assessments from the tax offices
  • Assistance during tax audits

Major taxes applicable to legal entities established in Slovakia:

Corporate income tax: Working alongside our Accounting and Reporting teams, our corporate income tax (CIT) experts are able to ensure that our clients’ direct tax reporting obligations are fully met.

VAT: Once registered, companies are required to submit periodic filings (monthly or quarterly) and make regular VAT payments. Each country has highly detailed requirements, enforced by tough penalties and interest charges for infringement. We are on top of the rules and can help your business stay fully compliant, while removing anxieties over potential delays of - or penalties for - your VAT returns. If your business incurs foreign VAT, you may be able to recover some or all of it. Offering an efficient and secure service, our extensive office network can process and repay VAT reclaims rapidly, helping to improve cash flow.

VAT Control Listing: Since 2014, companies are required to submit detailed VAT Control Listing. The filing details the vendor and customer VAT registration number, invoice number, invoiced amount, VAT amount, amount of VAT claimed and the date of taxable supply.

EC Sales List: Sales to EU customers outside of a company's home state may have to be reported on the EC Sales List (ECSL). Typically filed on a quarterly basis (although this varies around the EU), the ECSL details the customers' name, VAT registration number and the value of the taxable supplies.

Real estate tax: The tax on buildings applies to owners of real estate located in Slovakia and varies based on the area occupied

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