BEPS Central:Slovakia

Duff & Phelps provides additional new transfer pricing documentation requirements, jurisdiction by jurisdiction, including filing dates, notification dates, filing thresholds and penalties.

Slovakia Country-by-Country Reporting Tear Sheet

Status of Domestic Legislation

Legislation in force

First period covered

Financial years beginning on or after January 1, 2016

Filing Deadline

Within 12 months of end of income year

Turnover Threshold

EUR 750 million

Deadline for Notification of Reporting Entity

March 31, 2017

Signatory to CbC Multilateral Competent Authority Agreement (“CbC MCAA”)?
(The CbC MCAA is an agreement which provides that Country-by-Country reports filed with the tax authority of a signatory will be automatically exchanged with the tax authorities of all other signatories).

Yes

Covered by EU Directive 2011/16/EU?
(This directive requires that all EU member states co-operate in the field of taxation. Specifically, Amendment DAC4 requires multinationals to report certain financial information, now to include Country-by-Country Reporting, in every country in which they operate).

Yes

Member of Inclusive Framework on BEPS Implementation?
(Membership of the inclusive framework on BEPS implementation commits jurisdictions to implementing the BEPS package, including CbC reporting).

Yes

Penalties
(Late Penalties: Penalties for late/non-filing.
Inaccurate/False Information Penalties: Penalties for provision of inaccurate or false information)


Yes

Secondary Filing
(Does the jurisdiction require filing of the CbC report by a local group entity where the report is not made available by the jurisdiction of the ultimate parent entity)?

Secondary filing is required, but not until the year commencing January 1, 2017

Surrogate Filing
(Does the jurisdiction permit the appointment of a substitute local entity in place of the ultimate parent entity for the purpose of filing the CbC report on behalf of the group)?

Surrogate filing is permitted

Method of Filing

TBA

CbC Language Requirements

TBA

Master file/Local File 

(Action Point 13 also included guidance on Master file and Local file requirements, including specific items to be included and the format of such reports. Where a jurisdiction has amended its transfer pricing documentation requirements because of Action 13 to adopt the Master file and Local file concepts, this is noted below). 

Master File

Status of Domestic Legislation: Legislation in force
Reporting Threshold: Taxpayers that are required to keep a complete documentation are: Taxpayers that are obliged to keep their accounts under IFRS; Taxpayers whom conduct transactions with related parties that are established in a non-treaty state (also where secondary adjustments are required); Taxpayers that apply for an advance tax ruling; Taxpayers that claim a deduction of losses in excess of EUR 300,000 (incurred in previous years); Taxpayers that, in the two following tax periods, claim deduction of losses in excess of EUR 400,000 incurred in previous years; Taxpayers that claim tax relief under the Research and Development Incentives Act or Investment Incentive Act.
Filing Deadline: Within 15 days upon request
First Period Covered: Financial years beginning on or after January 1, 2015
Language Requirement: Slovak (English, German or French may also be accepted on request) 

Local File

Status of Domestic Legislation: Legislation in force
Reporting Threshold: Taxpayers that are required to keep a complete documentation are: Taxpayers that are obliged to keep their accounts under IFRS; Taxpayers whom conduct transactions with related parties that are established in a non-treaty state (also where secondary adjustments are required); Taxpayers that apply for an advance tax ruling; Taxpayers that claim a deduction of losses in excess of EUR 300,000 (incurred in previous years); Taxpayers that, in the two following tax periods, claim deduction of losses in excess of EUR 400,000 incurred in previous years; Taxpayers that claim tax relief under the Research and Development Incentives Act or Investment Incentive Act
Filing Deadline: Within 15 days upon request
First Period Covered: Financial years beginning on or after January 1, 2015
Language Requirement: Slovak (English, German or French may also be accepted on request)