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flag Slovenia Slovenia: Business Environment

In this page: Accounting Rules | Tax Rates | Intellectual Property | Legal Framework | Standards | Business Practices

 

Accounting Rules

Tax Year
From January 1st to December 31st.
Accounting Standards
The accounting in Slovenia should be in line with the law (Accountancy Act - in Slovenian only) and the international financial reporting standards (IFRS) as valid for the EU member states.
Accounting Regulation Bodies
Slovenian Institute of Auditors
Court of Audit
Government Budget Supervision Office
Accounting Reports
The New Slovenian accounting system was finalized in accordance with international accounting standards and general accounting principles accepted in the EU. Business books are kept on a double-entry bookkeeping bases except for small entrepreneurs.

Annual reports of entrepreneurs and personal companies should comprise at least the balance sheet and income statement.

Annual reports of small share capital companies whose shares are not listed on the stock exchange should as a minimum contain balance sheet, income statement and annexes with an explanation of the reports stipulated by law.

Annual reports produced by large and medium-sized capital companies, dual companies and small companies whose shares are listed on the stock exchange should contain balance sheet, income statement, cash flow statements, statement on changes in equity and explanatory annexes as stipulated by law.
Publication Requirements
Companies should publish an annual financial report which must be disclosed within a period of 3 months after the end of the fiscal year to the agency called AJPES. Audit reports are compulsory for large and medium-sized companies and small companies with securities traded on an organized market. Audits must be carried out within 6 months. Annual reports accompanied with the auditor's report shall be submitted to the AJPES agency within 8 months.
Professional Accountancy Bodies
Association of Accountant Services , in Slovenian.
Section of accountants
Certification and Auditing
The standards of accounting, auditing and assessment are set by the Slovenian Institute of Auditors (in Slovenian only). An auditor's report on financial statements shall be prepared and signed by a certified auditor. For more information consult the Auditing Act.
You can contact an external auditor: Ernst & Young, KPMG, PricewaterhouseCoopers, Deloitte.
Accounting News
Accountancy web portal (in Slovene only)
Government agency gathering annual reports of all companies, offering also financial analyses, and credit ratings
International accountancy publishing house website (in Slovene only)
IAS Plus

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Tax Rates

Consumption Taxes

Nature of the Tax
Value added tax or (in Slovene): davek na dodano vrednost (DDV).
Tax Rate
22%
Reduced Tax Rate
Slovenia applies a reduced VAT rate of
- 9.5% on certain categories of goods and services, including water supplies, pharmaceutical products, medical equipment for disabled persons, books, newspapers, hotel accommodation, foodstuffs, agricultural inputs…
- 0%: financial services, insurance transactions ,betting and lotteries, public radio and television broadcasts, education, healthcare and medical services, cultural services...
Other Consumption Taxes
Products for which excise duty is paid are alcohol and alcoholic beverages, tobacco products, mineral oils and natural gas, electricity, coal and coke. More detailed information on excise duties is available on the European Commission website.

Learn more about Service Providers in Slovenia on Globaltrade.net, the Directory for International Trade Service Providers.

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Corporate Taxes

Company Tax
17%
Capital Gains Taxation
Capital gains are treated as ordinary income, although gains arising from a transaction subject to the EC merger directive are exempt.
Main Allowable Deductions and Tax Credits
Apart from depreciation allowance and company loss that can be carried forward for the following seven years, several tax reliefs are in place for: investment in development; employing disabled persons; carrying out traineeship; donations; voluntary supplementary pension insurance; hiring of unemployed people; investment funds, pension funds, insurance companies and other venture capital companies.
Other Corporate Taxes
Social security contributions, transfer tax.
Other Domestic Resources
Consult Doing Business Website, to obtain a summary of the taxes and mandatory contributions.
 

Country Comparison For Corporate Taxation

  Slovenia Eastern Europe & Central Asia United States Germany
Number of Payments of Taxes per Year 11.0 28.0 11.0 9.0
Time Taken For Administrative Formalities (Hours) 260.0 260.0 175.0 207.0
Total Share of Taxes (% of Profit) 34.7 40.5 46.7 46.8

Source: Doing Business - Last Available Data.

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Individual Taxes

Tax Rate

Personal Income Tax Rate varies between 16 and 50% according to the amount of the income
From EUR 0 to 7,841.04 16%
From EUR 7,841.04 to 18,534 27%
From EUR 18,534 to 69,312.96 41%
Above EUR 69,312.96 50%
Allowable Deductions and Tax Credits
General individual tax deduction valid for every taxpayer is based on the amount of the yearly income. There are also some further individual tax deductions for disabled persons, for seniors, for students and for dependent children or other dependent family member.
Special Expatriate Tax Regime
There is no special tax regime for expatriates.

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Double Taxation Treaties

Countries With Whom a Double Taxation Treaty Have Been Signed
See the list of the conventions signed.
Withholding Taxes
Dividends: 0/15%, Interest: 0/15%, Royalties: 15%

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Sources of Fiscal Information

Tax Authorities
Tax Administration office website
Ministry of Finance website
Other Domestic Resources
Customs Administration office website
Guide to Slovene Tax legislation
Consult Taxation trends in the European Union.

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Learn more about Taxes and Accounting in Slovenia on Globaltrade.net, the Directory for International Trade Service Providers.

Intellectual Property

National Organizations
The body responsible for industrial property is the SIPO, Slovenian Intellectual Property Office.
Regional Organizations
Member of European Patent Organisation (EPO) and member of Office for Harmonization in the Internal Market of the EU (OHIM).
 

National Regulation and International Agreements

 
Type of property and law Validity International Agreements Signed
Patent
 
Industrial Property Act
20 years
Trademark
 
Industrial Property Act
10 years (renewable indefinitely) Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks
Design
 
Industrial Property Act
5 years (renewable, for a maximum of total 25 years)  
Copyright
 
Copyright and related rights Act
70 years after author's death WIPO Copyright Treaty

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Legal Framework

Independence of Justice
Judiciary in Slovenia is largely independent, though it is overburdened with cases which may take long time to close.
Equal Treatment of Nationals and Foreigners
Yes, the discrimination based on nationality, race, sex, language, religion, political or other beliefs, financial wealth, social status, education or any other personal characteristic is prohibited by the constitution.
The Language of Justice
The judicial language used in the country is Slovenian.
Recourse to an Interpreter
Having an interpreter is possible.
Sources of the Law and Legal Similarities
The main source of the law is the constitution of 1991 and - being a member of the EU - the conditions of the Community legislation.
Checking National Laws Online
Official Slovenian Gazzette website where all the laws are published (in Slovene only)
National Assembly website on legislation
English translation of legislation on data protection
French, German and English translation of the Constitution of Slovenia
English translation of the constitution and law on courts

Learn more about Lawyers and Legal in Slovenia on Globaltrade.net, the Directory for International Trade Service Providers.

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Standards

National Standards Organizations
Slovenian Institute for Standardization
Slovenian Metrology Institute
Integration in the International Standards Network
The rules of accreditation, testing, certification and quality control are in line with European standards SIST EN 45000 and international standards ISO 17000 according to the rules and guidelines of EA, ILAC and IAF of which Slovenian accreditation agency is a member. Slovenian institute for standardization is a full member of CEN, ISO, IEC, CENELEC and ETSI.
Classification of Standards
SIST + 4-digit number. When an international, European or other national standard is transposed as a Slovenian standard, the SIST acronym shall be prefixed to the designation of the source standard, for example: SIST ISO 710-6, SIST EN 1080, SIST DIN 1995-1.
Online Consultation of Standards
Catalogue of Slovenian Standards (SIST)
Certification Organizations
Slovenian Institute for Standardization
Slovenian accreditation agency (in Slovene only)

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Business Practices

General Information
Kwintessential , A brief overview on culture, customs and etiquette
Opening Hours and Days
Bank branches have a very varied working hours but majority do have a lunch break. They are mostly open Monday to Friday from around 8 AM to around noon and from around 2 PM to around 5 PM.

Public administrations are opened Monday to Friday from 8 AM to noon and from 1 PM to 3 PM. On the other hand, private and international offices are open from 8 AM to 4 PM and especially in bigger cities also from 9 AM to 5 PM.

Most shops are open Monday to Friday from 8 AM to 8 PM, on Saturdays from 8 AM to noon. Some big hypermarkets in major cities are open Monday to Saturday from 9 AM to 9 PM and on Sundays from 9 AM to 3 PM.

 

Public Holidays

New Year 1st and 2nd January
Slovene Cultural Day 8th February
Easter (Sunday and Monday) Movable feast
Day of Uprising against (WW-II) Occupation 27th April
International Labour Day 1st and 2nd May
Statehood Day 25th June
Assumption Day 15th August
Reformation Day 31st October
All Saints Day 1st November
Christmas 25th December
Independence and Unity Day 26th December
 
 

Periods When Companies Usually Close

New Year 1 week between Christmas and New Year
1st May 1 week from 27th April to 2nd May
 

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Last Updates: October 2014