- News & Views
- Events & Publications
Since 1st January of 2015, the Slovak legislation has specified the definition of “lease relationship” for the purpose of adjusting the tax base of the Lessor for non-monetary income by the Lessee for the technical appreciation and repairs to the leased property.
For the purposes of the Income Tax Act, the term “lease relationship” is defined as:
The extended term “lease relationship” applies to cases of technical appreciation and repairs made above the necessary and standard terms agreed in the “lease agreement” for a taxpayer with a tax year in one calendar year, except for the cases for which it is charged from 1st January of 2015.
Upon submission of the tax declaration after 31st December of 2015, with effect from 1st January of 2016, the Lessee shall apply the full remaining tax deduction value of the building to his tax expenses in case of ending technical appreciation by sale, irrespective of the fact, in what deduction group the lessee depreciates the rented property.