ACT
275/2017 Coll.
of 11 October 2017
changing and amending Act No. 431/2002 Coll., on Accounting as amended.

The National Council of the Slovak Republic has adopted this Act:

Art. I

Act No. 431/2002 Coll. on Accounting as amended by Act No. 562/2003 Coll., Act No. 561/2004 Coll., Act No. 518/2005 Coll., Act No. 688/2006 Coll., Act No. 198/2007 Coll., Act No. 540/2007 Coll., Act No. 621/2007 Coll., Act No. 378/2008 Coll., Act No. 465/2008 Coll., Act No. 567/2008 Coll., Act No. 61/2009 Coll., Act No. 492/2009 Coll., Act No. 504/2009 Coll., Act No. 486/2010 Coll., Act No. 547/2011 Coll., Act No. 440/2012 Coll., Act No. 352/2013 Coll., Act No. 463/2013 Coll., Act No. 333/2014 Coll., Act No. 130/2015 Coll., Act No. 423/2015 Coll., Act No. 125/2016 Coll. and Act No. 264/2017 Coll. is changed and amended as follows:

1.	The following sentence shall be inserted at the end of Article 2(11): "If, in the event of dissolution without liquidation, the accounting unit which becomes the legal successor7c) of the legal entity being dissolved ("successor accounting entity") is not a newly created accounting unit, such unit is obligated to revise as of the decisive day its classification into the size groups again and take into consideration the size of assets and the average number of employees assumed from the accounting unit being dissolved.".

2.	The phrase "entity that has become its legal successor7c) (hereinafter “successor accounting entity”)" in Article 4(3) shall be replaced with the phrase "successor accounting entity". 

3.	The phrase "A separate regulation may provide" in Article 4(4) shall be replaced with the phrase "Separate regulations may provide".

The footnote 9 shall read as follows:
"9) E.g. Art. 56 of Act No. 43/2004 Coll. as amended, Art. 40 of Act No. 203/2011 Coll. as amended.".

4.	The first sentence of Article 6(4) shall read as follows: "An accounting entity shall be required to prepare its individual financial statements in accordance with its books according to Articles 17 and 18 or prepare an individual financial statement according to Article 17a."

5.	The letter d) shall be inserted behind Article 16(1) as follows:
"d) as of the effective date of the change of the legal form to the legal form with a different accounting system.".

6.	The letter e) shall be inserted behind Article 16(4) as follows:
"e) as of the day preceding the effective date of the change of the legal form to the legal form with a different accounting system.".
 
7.	The following sentence shall be inserted at the end of Article 16(7): "If the accounting entity is declared bankrupt during liquidation, the accounting entity shall proceed in accordance with paragraph 8.".

8.	The phrase "separate regulation22a)" in the first sentence of Article 17a(3) and in letter c) shall be replaced with the phrase "separate regulations22a)", and the phrase "separate regulation22a)" in the in letter d) shall be replaced with the phrase "separate regulations22a)".

9.	The footnote 22aa shall read as follows:
"22aa) Art. 25 of Act 429/2002 Coll. as amended.".

10.	The letter e) shall be inserted behind Article 17a(3) as follows:
"e) is a European company22ae) established in the Slovak Republic, European cooperative22af) established in the Slovak Republic, or is a European grouping of economic interests22ag) established in the Slovak Republic, if before relocating the registered office to the Slovak Republic they compiled an individual financial statement in accordance with separate regulations.22a)“.

The footnotes to references 22ae through 22ag shall read as follows:
"22ae) Art. 4 of Act No. 562/2004 Coll. on European Companies amending and supplementing certain acts.
"22af) Art. 4 of Act 91/2007 Coll. on the European Cooperative.
22ag)  Art 2 of Act No. 177/2004 Coll. on the European Economic Interest Grouping changing and amending the Act No. 595/2003 Coll. on income tax.". 

11.	The last sentence of Art. 18(4) shall be deleted:

12.	The word "consolidated" shall be inserted behind the word "single" in Art. 22(16).

13.	The phrase "as per paragraph 2" shall be inserted behind the word "statement" in the first sentence of Article 23(3).

14.	The footnote 29db shall read as follows:
"29db) Art. 5(ab) of Act No. 483/2001 Coll. as amended by Act No. 213/2014 Coll.".

15.	The following sentence shall be inserted at the end of Article 23a(3): "Documents as per Art. 23(2) shall be archived with the register on behalf of the accounting entity being dissolved by the successor accounting entity; before the effective date of merger, consolidation or separation, the documents may be archived by the accounting entity being dissolved.".

16.	The word "five" in Art. 23a(4) and (6) shall be replaced with the figure "15".

17.	The third sentence of Article 23b(1) shall read as follows: "If the accounting unit failed to archive the documents as per Art. 23(2) in the correct form as per Art. 23a(2), the motion delivered  was filed in the incorrect form, fails to contain the prerequisites or components as per the second sentence or paragraph 3, and the accounting entity failed to remove the errors within time periods as per Art. 23a (3) and (4), the tax authority shall call on the accounting entity to resolve these deficiencies in a defined period and instruct the accounting entity as to the consequences associated with such failure.". 

18.	Semicolon in the third sentence of Art. 23b(3) shall be replaced with a period, the clause behind the semicolon shall be deleted and the following sentence shall be inserted at the end: "If the accounting entity failed to archive documents as per Art. 23(2), archived the same in the incorrect form as per Art. 23a(2), the motion delivered was filed in the incorrect form, fails to contain the prerequisites or components as per the third sentence, the tax authority shall proceed in accordance with paragraph 1.".

19.	Paragraph 5 of Art. 23b shall read as follows: 
"(5) The delivery of documents referred to in Article 23(2) to the tax authority or to an electronic registry pursuant to paragraph 3 or through the state treasury system is considered the fulfilment by the accounting entity of its obligation to deposit and publish documents. If the accounting entity removes the deficiencies as per paragraph 1 or paragraph 3 in the requested scope in the period provided by the tax authority in the call to remove deficiencies, such motion shall be considered to be filed free of deficiencies on the day of original delivery of the motion. If the accounting entity fails to comply with the call of the tax authority to remove deficiencies in full extent and in the period specified, the documents as per Art. 23(2) shall be deemed undelivered.
20.	The footnote 35aa shall read as follows:
"35aa) Article 4 (1) of Act No. 343/2015 Coll. on Public Procurement amending and supplementing certain acts.".

21.	Art. 25 shall be amended to include paragraph 9 as follows:
"(9) Valuation of assets and liabilities in terms of the acquisition price, by own costs or the fair value by the European company, European cooperative, and European economic interest grouping before relocation to the registered office to the Slovak Republic shall be considered to be valuation in terms of the acquisition price, by own costs or the fair value also after relocation of the registered office to the Slovak Republic.".

22.	The word "five" in Art. 35(3)(b) and (c) shall be replaced with the word "ten".

23.	New paragraphs 3 and 4 shall be inserted behind Art. 38(2):
"(3) Repeated committing of an administrative delict as per paragraph 1(a) or 1(n) shall be considered as material violation of this Act.

(4) In the event of repeated discovery by tax authority of an administrative delict as per paragraph 1(a) or 1(n), the tax authority shall give penalty as per paragraph 2(a) and file a motion for revocation of the trade license.47ae)“.

The existing paragraphs 3 through 7 shall be re-numbered as paragraphs 5 through 9.

The footnote 47ae shall read as follows:
"47ae) Art. 58(1) of Act No. 455/1991 Coll., as amended.".

24.	The phrase "separate regulation,22a)" in Article 38(5) shall be replaced with the phrase "separate regulations,22a)".

25.	The Art. 39p shall be inserted behind Art. 39o as follows:

"Art. 39p
Transitional Provisions to the Regulations Effective as of 1 January 2018

(1) Provisions of Art. 35(3)(b) and (c) in the version effective as of 1 January 2018 shall also apply to the archiving of accounting records the archiving period of which started to run before 1 January 2018 and has not expired until 31 December 2017.

(2) The provisions of Article 38(3) and (4) in the version effective as of 1 January 2018 shall apply to administrative delicts committed after 31 December 2017.".

Art. II

This Act shall come into force on 1 January 2018.

Andrej Kiska m. p.
Andrej Danko m. p.
Robert Fico m. p.