Slovakia's government has recently finalized draft legislation amending the rules on certain expense deductions. The main changes include:
- Expenses in relation to assets that may be used for personal consumption, such as consumer electronics, furniture, cars will only deductible up to the proportion of taxable income generated by the assets unless the taxpayer can prove that the assets were exclusively used to generate taxable income
- Contractual penalties will not be deductible.
- Fees for the…