5 legislative and accounting changes businesses and nonprofits shouldn't overlook in 2025
A practical overview as of mid-2025
Changes and obligations
The year 2025 brings a series of changes that affect businesses, accountants and the not-for-profit sector. Some are already in place, others are in the process of being implemented. Here is a quick overview of the most important ones:
Transparency report for non-profit organisations (from 1 June 2025)
From 1 June 2025, non-profit organisations have a new obligation – to submit a so-called transparency report to the Register of Financial Statements. The first statement will cover the period June-December 2025 and is due by 30 June 2026.
It is already important to have records of income, expenditure and donors in place - tracing back can be a problem.
Changes in VAT: New rates and new forms
From January 2025, new VAT rates apply: 23% (basic), 19% and 5% for selected goods and services.
The Financial Administration also announces a new VAT return form – expected to be issued at the end of June 2025.
Make sure your accounting software can handle the new rates and prepare for the reporting change.
Employee benefits and exemptions from 1 July
From 1 July 2025, new tax exemptions come into force, for example for incentive allowances for people enlisted in the conscription or emergency reserve.
This is a good time for employers to review benefits that may be more tax-efficient for both the company and the employee.
Accounts and audits: last phase for 2024
The deadline for most companies to publish their 2024 financial statements is approaching – 30 June 2025.
If you have a statutory audit, you must have completed it within this period.
Make sure, that:
- the accounts approved by the general meeting,
- correctly filled in notes,
- the financial statements stored in the Register of Financial Statements.
(Reminder) Financial transaction tax - first return by 31 July
Although we have already covered the subject of the FTT in detail, we remind you that the first FTT tax return must be filed by 31 July 2025.
It mainly concerns banks, fintechs and investment companies.
The half year 2025 is rich in changes. Many of these relate to recordkeeping, reporting and the correct timing of actions.
We encourage businesses and nonprofits alike not to wait until the last minute and to consult early with experts.
A tailor-made solution?
We will be happy to advise you – contact the experts from ETL SLOVAKIA.
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