Mutual agreement between the governments of the Slovak Republic and the Russian Federation concerning the traveling of citizens without a visa (209/1995Coll.)

This agreement sets up provisions concerning the stay of citizens of both countries in the other state.

The act of the National Council of the Slovak Republic on concession fees and on the change of act No. 468/1991 Coll. television and radio broadcasting (212/1995Coll.).

Slovak Television and Slovak Radio are now defined by this Act as acceptors of concession fees.

Double tax treaty on income taxes and property taxes between the Slovak Republic and the Russian Federation

This double tax treaty will come into effect on the first day of the month following the month of ratification of the treaty. When this treaty becomes valid the provisions of the COMECON tax treaty will no longer be valid.

Amendment to the Trade Licensing Act (200/1995)

This amendment deals mainly with regulations concerning the proving of specialized skills required for engineering activities.

Amendment to the Civil Administration Act

Rulings passed while the participant is absent are now of use not only in commercial lawsuit as was previously the case. This amendment increases the competency of district courts and sets up new rights for notaries.

The amendment has not been published in the Collection of Laws yet. It is expected that the amendment will come into the effect at the beginning of December 1995.

Act on Bailiffs

The National Council of the Slovak Republic approved a new law on bailiffs which should come into effect at the beginning of December 1995. The new act creates the position of bailiffs, as members of the Chamber of Bailiffs, which will be entitled to realize judgments. The bill provides bailiffs with a broad scale of jurisdictions concerning execution (e.g. entry to flats, access to bank accounts, access to the Register of Immovables etc.).

SR and CR

The ministries of Finance of both countries signed a treaty concerning mutual cooperation in the field of custom duties and import duty surcharges.

Regulations Related to the New Foreign Exchange Act

The Bank Council of the Slovak National Bank (NBS) has approved in the National Council of the Slovak Republic, legal norms relating to the Foreign Exchange Act. The effective date of these norms is 1 October 1995. These norms relate to the notification of the Ministry of Finance and NBS for the execution of some of the regulations of the Foreign Exchange Act, the announcement about setting up the method of payments to abroad and to non-residents, and the announcement about limits for the purchase of foreign currencies, as well as the limits for the obligation to offer obtained foreign currencies to the Slovak banks.

The information 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.

Please address any questions to:
Tax and business advisory services:
Ruth Clamp/Antonin Masaryk
Audit and accounting services:
Santiago Pardo/Alexander Koprda, Arthur Andersen Czech Republic, tel +42 7 5340 545, or enter text search 'Arthur Andersen' and 'Business Monitor'.