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Slovakia Boosts Research And Development Tax Credit

by Ulrika Lomas, Tax-News.com, Brussels

17 August 2017


The Slovakian Government has approved a series of tax measures, including an improvement to the country's deduction for research and development (R&D) expenditure.

Under existing rules, a 25 percent deduction for R&D expenses is available to companies in Slovakia, in addition to a deduction of 25 percent of the R&D costs exceeding R&D expenditure from the prior period.

The proposed changes to the Income Tax Act, announced by the Ministry of Finance on August 16, would increase the basic deduction for R&D expenses to 100 percent, and increase the deduction for R&D costs exceeding the previous period's spend, also to 100 percent.

In addition, to encourage investment in hi-tech industries and the employment of highly skilled workers, the Government intends to introduce a patent box tax regime.

The proposals also include measures to combat tax avoidance and increase tax transparency, including publishing lists of taxpayers who have made "excessive deductions," and more stringent tax rules for traders of mineral oils to combat excise duty fraud.

The ministry said that most of the proposals will be applicable from January 2018.

TAGS: Finance | tax | investment | tax avoidance | Slovakia | excise duty | trade | research and development | Tax

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