Slovak News - March 1998 - Foreign Incentive - 10% Tax Rate

Finance Minister M. Maxon said an amendment to the Income Tax Act is being prepared that will reduce the tax base by 75% for certain foreign investors investing more than Sk 200m (USD 5.7m) in Slovakia. One condition is that they reinvest the saved funds in Slovakia. The amendment has not been submitted to the government yet. If the amendment is introduced, it will be an effective 10% tax rate for qualified foreign investors.

The information in this newsletter is correct to the best of our knowledge and belief at the time of going to press. Specific advice should be sought, however, before investment and other decisions are made.

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