Europe, Middle East and Africa Tax Facts 2012 - Crowe Horwath ...

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SLOVAKIA INCOME TAX RATES 2012 Individuals 42 Taxable Income (EUR) Tax Rate (%) All income 19 Companies Taxable Income (EUR) Tax Rate (%) All income 19 VALUE ADDED TAX (VAT) Standard rate is 19%. A temporary standard rate of 20% is applicable from January 1, 2011 until the last day of the calendar year in which the European Commission (Eurostat) publishes data stating that the Slovakia’s current Government Defi cit is less than 3%. A reduced rate of 10% is imposed on certain specifi c items (e.g. certain medication, books etc.). CAPITAL GAINS TAX (CGT) Individuals Capital gains of resident individuals are subject to the standard fl at tax rate of 19%. The sale of real estate is tax free after being held for fi ve years. Companies Capital gains of resident companies are subject to the standard fl at tax rate of 19%. LOSSES Losses may be carried forward for a maximum of seven taxable periods (for fi ve taxable periods in case of losses occurred before 2010). In case of individuals losses can be carried forward and deducted only from their active income tax base (business and selfemployment activities) as from 2012 - until 2011 losses could be deducted from the total tax base. Losses in the case of a merger or a de-merger may be carried forward by the legal successor (merger/de-merger may not be made for tax avoidance purposes). TREATY NETWORK 63 countries. WITHHOLDING TAX Dividends: 0% Interest: 19% (unless exempt or reduced under relevant treaty), EU Royalties and Interest Directive may apply* Royalties: 19% (unless exempt or reduced under relevant treaty), EU Royalties and Interest Directive may apply* *Applicable to groups of companies with a minimum 25% interest held for at least 24 months CONTACT: Peter Danovsky peter.danovsky@tpa-horwath.sk TPA Horwath TAX, k.s. Pribinova 24/4195 811 09 Bratislava Slovakia Tel: +421 912 851 124 Fax: +421 2 2067 8913 www.tpa-horwath.sk Europe, Middle East and Africa Tax Facts 2012 Last updated: May 2012
SLOVENIA INCOME TAX RATES 2012 Individuals Taxable Income (EUR) Tax Rate (%) Up to 7,840,53 16 From 7,840,53 - 15,681,03 27 From 15,681,03 41 Companies Taxable Income (EUR) Tax Rate (%) Year 2012 20 VALUE ADDED TAX (VAT) � 20% � 8.5 % (food, drugs, books, culture events etc.) � 0% (exports) CAPITAL GAINS TAX (CGT) Individuals CGT applies to sale of shares, property and investment coupons. � 20% from 0 to 5 years of holding � 15% from 5 to 10 years of holding � 10% from 10 to 15 years of holding � 5% from 15 to 20 years of holding � 0% after 20 years of holding Companies CGT applies to sale of shares. Reduction of tax basis of 50% for capital gains from the sale of companies if the minimum shareholding is 8%, the shares have been held for at least 6 months and the company has at least 1 full time employee. LOSSES Losses can reduce the tax base, without limitation. TREATY NETWORK 47 countries. WITHHOLDING TAX Dividends: 15% - or per applicable DTA and applying the EU Parent-Subsidiary Directive for group purposes (participation at least 10% and holding 24 months; 24 months can be replaced with bank guarantee). Interest: 15% - or per applicable DTA and applying the EU Directive on a common system of taxation applicable to interest and royalty payments (between associated companies of different Member States, participation at least 25%, holding 24 months). Royalties: 15%* or per applicable DTA and applying the EU Directive on a common system of taxation applicable to interest and royalty payments (between associated companies of different Member States, participation at least 25%, holding 24 months). CONTACT: Dr. Michael Knaus michael.knaus@tpa-horwath.si TPA Horwath d.o.o. Leskoškova cesta 2 1000 Ljubljana Slovenia Tel: +386 1 520 86 60 Fax: +386 1 520 86 69 www.tpa-horwath.si Europe, Middle East and Africa Tax Facts 2012 43 Last updated: May 2012
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