Slovak Financial Law News 2004

Decree Stipulating the Method for Calculation of Turnover

Decree of the Antimonopoly Office of the Slovak Republic No. 269/2004 Coll. stipulating the details on the calculation of turnover

Pursuant to Act No. 136/2001 Coll. on Protection of Economic Competition, as amended, the Antimonopoly Office of the Slovak Republic set out the details on the calculation of turnover. It stipulated the definition of turnover separately for undertakings accounting in the regime of single-entry bookkeeping and double-entry bookkeeping, banks and branches of foreign banks, securities traders and branches of foreign securities traders, asset management companies and branches of foreign asset management companies and share funds, Export-Import Bank of the Slovak Republic, health insurance companies, Social Insurance Company, insurance companies, budgetary and non-profit organizations, municipalities, as well as associations of individuals and legal entities, if their activities relate or may relate to competition regardless whether these activities are aimed at profit making.

This decree further specifies the rules for the calculation of turnover in case of the undertaking having acquired a part of a business of another undertaking or transferred a part of its business to another undertaking between the end of previous fiscal year and prior to the concentration.

If the undertaking concerned was incorporated by merger or amalgamation after the end of previous fiscal year and prior to the concentration, the turnovers of merger entities shall be taken into account.

The turnover of the undertaking enumerated in a foreign currency shall be exchanged to the Slovak currency (SKK) by the exchange rate published by the National Bank of Slovakia on the last day of the respective fiscal year.

The decree repealed the former decree of the Antimonopoly Office of the Slovak Republic No. 167/2001 Coll. stipulating the details of turnover calculation.

This Decree came into force on 1 May 2004.

---

Next: Amendment to the Cadastral Act
Up: April 2004
Previous: Decree Stipulating the Terms of