Tax period/ Tax return filing
The tax period is usually a calendar year. However, it is possible for companies (not individuals) to notify the tax authorities that a tax payer will use an accounting period that is not identical to a calendar year, i.e. a period of 12 consecutive calendar months (a so-called financial year). Such an accounting period then also becomes the tax period.
A tax return should be filed with the respective Tax Authority within three months following the end of the tax period. It is possible to extend the filing period by up to three months based on a notification filed with the respective tax authority within the statutory deadline for filling the respective corporate income tax return, or by up to six months if the taxpayer has foreign sourced income.
There is no group taxation in Slovakia. All entities are taxed separately.
There is a special tax treatment for partnerships which are in principle treated as wholly transparent (general partnerships) or partially transparent (limited partnerships).
Tax losses declared for post-2009 taxable periods can be carried forward for up to seven years (otherwise up to five years). In contrast to rules which applied prior to 1 January 2004, the tax loss does not have to be carried forward in equal portions nor does a portion of the carried forward loss have to be reinvested in fixed assets. A company wound up without liquidation (e.g., on a merger), is allowed to transfer the right to carry forward its tax losses to its legal successor to set off against subsequent taxable profits. The legal successor may deduct the tax loss of the dissolved legal entity as long as the dissolved entity and its legal successor are liable to corporate income tax and at the same time as long as the purpose of the restructuring was not solely to decrease or avoid the tax liability. Different rules may apply to pre-2004 losses, or to losses of companies benefiting from various tax incentive schemes.
Depreciation is a tax deductible expense and is calculated for tax purposes at statutory rates. Both straight-line and accelerated methods of depreciation are allowed (Tables 9 and 10 overleaf). Companies may have different depreciation rates for accounting and tax purposes. Intangible assets and low value fixed assets (if depreciated and not directly expensed) must be depreciated in line with the accounting depreciation. A taxpayer may depreciate assets which it leases under a financial lease as defined by tax legislation. In such a case the leased asset may not be depreciated by the lessor.