Slovak Tax Code Changes Affect NGOs
PUBLISHED: NOVEMBER 6, 2003
According to the new tax code adopted on October 28, 2003, Slovakia introduced a flat tax rate of 19% for individual and company tax as of 2004. Along with this, all tax benefits and allowances will be abolished, including the tax deductibility of donations to NGOs. However, as of 2005, both individual and corporate taxpayers may designate 2% (as opposed to the current 1%) of their tax liability to a qualifying NGO.