Enforcement and sale of the share security in a SPV project company in Slovakia
By Silvia Hlavačková and Milan Červenka
As of 1 October 2012, transfers of majority shares (i.e. 50 per cent and more) in a private limited liability company (‘spoločnosť s ručením obmedzeným’, ‘skLtd’, the most popular corporation type in Slovakia) have become more complicated, since the following rules are applicable: the transfer of the share shall become effective only as of registration with the company register; the approval of the respective tax authority verifying that neither the transferor nor the transferee have an outstanding tax liability exceeding €170 (£140) is required; and if the transferee/transferor is a foreign entity, the approval of the Tax Authority is replaced by an affidavit of the transferee/transferor.
The amendment of the Slovak Commercial Code that entered into force in October 2012 is one of the elements of the Slovak government’s agenda to combat tax avoidance. The amendment primarily aimed at preventing Slovak natural or legal persons from setting up companies and transferring/ acquiring a share in companies, if such persons have outstanding tax liabilities vis-à-vis Slovak state…
Click on the link below to read the rest of the Taylor Wessing briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Taylor Wessing
News from The Lawyer
Briefings from Taylor Wessing
For the tax year from 6 April 2014, the standard lifetime allowance has reduced from £1.5m to £1.25m.
One of the areas highlighted last year by the Regulator was the regulation of workplace DC pension schemes.
Analysis from The Lawyer
As the equity capital markets rocketed back into favour and global M&A saw at least a partial return to form, there have been some rich pickings for The Lawyer’s Corporate Team of the Year award shortlisted firms in 2014.
The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world