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The year-end financial statements must be submitted together with the tax return to the tax office within three months after the chosen year end. This deadline can be postponed by a maximum of an additional three months (in certain cases six months) by filing an announcement to the tax office (extension not subject to approval of the tax office).

Financial statements are filed with the tax office twice - the first time in support of the tax return, and the second time after approval by the general shareholders' meeting. It therefore follows that there can be changes to the financial statements between the date of their submission to the tax office (with the tax return) and the date that they are approved by the shareholders.

Financial statements (and the annual report) must be filed with the Commercial Register within 30 days of the date of approval by the shareholders' meeting or within seven months after the end of accounting period (applied for general partnership and limited partnership).

Annual report

Companies that must have their financial statements audited (by an independent auditor) must prepare an annual report containing the financial statements for the accounting period and the auditor's report. Other information required by law is: financial position of the company, important events after balance sheet date, expected future development of the company's activities, research and development expenditures, acquisition of own shares and shares of the parent company, proposals for the distribution of profit (settlement of losses), etc.

An accounting entity that has issued securities that were permitted to be traded on a regulated market is required to disclose in its annual report a corporate governance statement as a specific section of the annual report, which contains for example a reference to the corporate governance code, any significant information about corporate governance practices, the structure of share capital, any restrictions on the transferability of securities, etc.

Consolidated financial statements

All consolidated financial statements shall be prepared according to EU-IFRS, while those companies whose parent companies prepare consolidated financial statements under EU legislation are exempt from this requirement. The exemption does not apply to a parent accounting entity that is at the same time a subsidiary accounting entity and has issued securities that were permitted to be traded on a regulated market of a member state or a state of the European Economic Area.

Companies must prepare consolidated financial statements only if the group exceeds in each of the two successive accounting periods two of the following three criteria (financial statements of all subsidiaries, joint ventures and associates are aggregated at their full amounts):


©2010 KPMG Slovensko spol. s r.o. , a Slovak limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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