Slovak Ministry of Finance is considering a new package to boost innovative ventures in the country. The package shall become active from next year and its key features shall include no income tax for startups. Companies spending at least 25 per cent of their expenses on R&D and with their total turnover not exceeding 200.000 euros will not have to pay taxes for two consequent years. Moreover, after this period those companies shall be charged a lower income tax rate than the currently applied 22 per cent common for all legal entities based in the country. This should be beneficial especially for already profitable startups but also all other startups will appreciate the tax-free licenses. This would mean savings between 480 euro to 2888 euro depending on the company size which were usually paid from the founder’s pocket.
