Slovak Parliament passed the Act on top-up tax

On 8 December 2023 the Slovak Parliament passed the Act on top-up tax for the assurance of minimum taxation of multinational groups and large local groups and on the amendment of the Tax Administration Act, which will be effective from 31 December 2023.

We have already informed you about the proposal to introduce a new top-up tax in our previous Articles.

The deadline for filing top-up tax returns and notifications with information to the determination of the top-up tax was extended from the initially proposed 13 months after the respective taxable period to 15 months after the taxation period. This is in line with the provisions of the EU Directive No. 2022/2523 of 15 December 2022 on the assurance of minimum level of taxation of multinational groups and large local groups in the EU.

The top-up tax rules will apply to taxable periods starting at the earliest on 31 December 2023.