Under the Act No. 511/1992 Coll. on Tax Collection, individuals permanently residing in the Slovak Republic (SR) and legal entities with their seat in SR are obliged to submit a property return every three years and indicate the property that they own both in and outside of Slovakia. The property return must be submitted also by foreign individuals staying in Slovakia for at least 183 days in 1998.

Legal entities with their seat abroad and foreign individuals staying in Slovakia for less than 183 days are obliged to file the return if they own immovable assets in Slovakia.

Movable assets, proprietary rights and other assets of a property nature must be included in the return only if their total value exceeds Sk 1m. Although immovable assets are not evaluated, they must always be shown in the return.

30 September 1998 is the deadline for submitting the 1998 property return reflecting property as of 1 January 1998. The next return after that must be submitted by 30 September 2001.

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.

For further information contact Mr Frank Walsh on +421 7 5340 545 Email directly on Click Contact Link