Also in the news...
Press release New plans revealed to help small firms and improve access to cash
New Fair Payments and Disability Finance Codes launched to support SMEs
Guidance Overseas business risk for Taiwan
Information on key security and political risks which UK businesses may face when operating in Taiwan.
Guidance Overseas business risk for Guinea
Information on key security and political risks which UK businesses may face when operating in Guinea.
Activities With Tax Reduction
It is of utmost importance to check, if according to law, the activities you carry out have any tax incentive for income tax purposes. The Income Tax Law in its Title VII - On Fiscal Incentives, indicates in each chapter those activities that enjoy reductions and facilities for the payment of their taxes. The activities are as follows:
How Organised Leave Planning Improves Workplace Efficiency
Efficient leave planning is essential for any organisation to maintain productivity and ensure employee satisfaction. When done effectively, it can prevent disruptions, foster collaboration, and promote a balanced work environment.
U.S. Steel won't be on sale, on contrary new investment of 130 mil Euro is in move
The biggest employer in the east of Slovakia, U.S. Steel Kosice will build a new production line. In Kosice they want to produce special electrotechnical plates from the 3rd quarter of 2020.
2 years ago they were already talks about the sale of this company to the Chinese group He-Steel. In 2016, the corporation had a net loss of 240 mil USD and on 31 January 2018, United States Steel Corporation announced a net profit 341 mil USD. The Slovak government was also alerted and performed activities to negotiate with the management. Certain law suit about lands under the company and a stop from the Chinese government in that time for foreign investment froze the deal as it was stated in Slovak newspaper.< /p>
Today almost 2 years ago it must be stated that U.S. Steel Kosice is back on track and makes again huge profits. This is underlined also with the fact that a new production line worth 130 mil Euro will be lunched in the second half of 2020.This brand new line for the production of grain-free electrotechnical steel (NGO) will be able to produce around 100,000 tons per year. A contract has been signed with and undefined strategic partner who will get most of this product. The company will produce high quality steel for electric cars. Very positive fact that there will be no state support in forms of some subsidies or tax/fee reductions.
Do you want to know more about this topic or other issues related to Slovakia. Don't hesitate and contact us.