12 September 2012

This direct tax should apply only to businesses having an establishment in Slovakia, although we are currently confirming this with the Slovakian tax authorities.
 
We understand that from 1 September 2012, insurers and other regulated industries in Slovakia, including Slovakian branches of foreign insurers, will be required to pay a special levy to help reduce the deficit in the country’s public finances. It is envisaged that the levy will continue until December 2013.
 
The levy is 0.00363 per calendar month on any profits over €3 million earned in the relevant accounting period. The levy payable from 1 September 2012 will be based on profits above €3 million that were reported for the preceding accounting period.