Slovakia: new entry prices for asset depreciation

From 1 March 2009, changes have been made to the entry prices used for depreciation and amortisation of long-term tangible and intangible assets:

• to €1,700 (from €996) for both depreciated tangible assets and amortised technical appreciation
• to €2,400 (from €1,660) for amortised intangible assets

The EU’s new statistical classification of products by activity was received. The re-classification means that the depreciation period has been reduced for some kinds of tangible asset as they have been moved into lower depreciation groups.

From 1 March 2009, it is also possible to apply component depreciation for assets introduced into use in 2009. This allows:

• tangible assets to be subdivided into individual severable components whose entry price is more than €1,700
• only severable components specified in Schedule 1 to the Income Tax Act may be subdivided from buildings and construction for depreciation purposes

Law:

• Act no. 60/2009 Coll., in force from 1 March 2009, amending Act no. 595/2003 Coll. on income tax
• EC Regulation No. 451/2008
• Income Tax Act, Schedule 1