On 21 June 2023, the National Council (parliament) of the Slovak Republic approved a Law amending the Income Tax Act to repeal the application of controlled foreign company (CFC) rules to individuals, which was introduced from 1 January 2022. The amendments include the removal of all relevant provisions and references for the application of the CFC rules to individuals with effect from 1 August 2023. Further, a transitional provision provides that tax corresponding to the CFC obligations tha…