Tax planning comprises the tax implications of individual decisions (business and investment), generally with the purpose of tax minimization. Every individual should have knowledge of their income and estate tax matters, including the costs involved. You can ask for the help of a Slovak law firm in order to receive proper advice with regard to tax minimization in Slovakia.
The purpose of tax minimization in Slovakia is to efficiently manage your finances by reducing the amount of certain taxes. This can be reached in various ways, such as the following:
Our solicitors in Slovakia can make sure to provide you with the necessary information in order to fully understand tax minimization strategies and assist you in other legal issues.
There are various business strategies that can help business owners reduce their taxes, regardless of the type of business they have established.
One of the tax strategies can be used during the current fiscal year and it requires the action of bringing forward the tax deductions, its aim being to reduce the taxable income. Business owners who buy presents for business partners or employees can opt for anticipated presents which will usually be deducted at the beginning of the year. This strategy can be applied for things such as:
This strategy can again be easily explained to you by our Slovak lawyers who will make sure that your best interests are being looked after.
You can also use the capital gains discount as a tax minimization strategy in Slovakia. Capital gains can be viewed as income and they are usually subject to corporate tax at the normal rate. But capital gains can benefit from participation exemption.
Foreign investors can also establish a company in Slovakia and benefit in this way from the separate legal structure of the company. Effective tax planning combined with the right type of company structure can give you the possibility to reduce taxes and balance them.
You can contact our law firm in Slovakia and you will receive complete information about other methods used for tax reduction when doing business in Slovakia.
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