Slovakia: Selected corporate matters II
Governments across CEE, including Slovakia, have introduced or are discussing various measures to mitigate potential adverse consequences of the corona virus situation. This short overview summarises measures taken in Slovakia with respect to corporate housekeeping matters. Due to the dynamic developments, we will update this overview regularly and as required.
Selected legislative measures: The respective measures will become effective on the date of their publication in the Collection of Laws of the Slovak Republic, i.e. on 27 March 2020. The actions are envisaged as temporary measures, with the respective period to expire on 30 April 2020.
- Restrictions of the lapse of periods for assertion or defence of rights in the courts regarding private-law relationships, the lapse of which would result in limitation or termination of rights (limitation periods). The respective period would not be running from the date of effectiveness until 30 April 2020; in case they have expired after 12 March 2020, they would not lapse earlier than 30 days after the effectiveness of the proposed amendments.
- Restrictions of procedural time-limits on the part of the parties to proceedings. These time-limits would not be running from the date of effectiveness of the proposed amendments until 30 April 2020.
- Extension of the deadline for filing application for initiation of insolvency proceedings by the debtor from 30 to 60 days, where the debtor becomes insolvent in the period from 12 March 2020 to 30 April 2020.
- Enabling private-law legal entities to decide per rollam, even where such possibility is not stipulated by internal rules (e.g. Articles of Association or Statutes). Provisions of the Commercial Code regarding voting by correspondence (signature on the voting ballot to be notarised) and voting by electronic means (qualified electronic signature is required) apply accordingly.
- Temporary prohibition to exercise lien rights and perform auctions.
Tax Returns and Payments: Slovak government is still considering the extension of the original filing deadline for annual income tax returns from 31 March 2020 until 30 June 2020 and the extension of the original deadline, 31 March 2020, for payment of the balance of tax due until 30 September 2020.
Financial Statements: Financial statements have to be filed together with the annual income tax return; therefore the considered extension described under Tax Returns and Payments above would – most likely – also apply to financial statements.
UBO registration: No specific deadline change for UBO registration with the commercial register. Original deadline for UBO verification with the specialized register already lapsed as of 28 February 2020. Notification within 60 days from change of the registered data applies unchanged.