Business and Investment Environment in Slovakia
|
|
- Aleesha Campbell
- 8 years ago
- Views:
Transcription
1 Business and Investment Environment in Slovakia ESTER - Wp3C Riga September 4 5, 2003
2 Understanding the business environment from the point of view of new high-tech enterprises. Support measures for SMEs Venture capital funds in Slovakia Identification of potential for risk funding Statistical survey related to innovations in Slovak SMEs. Legislative framework from the point of view of investors and enterprises 1. Commercial Code 2. The Tax System 3. Labour Code 4. Intellectual Property Rights Protection 5. Legal Regulations of Environmental Protection 6. Bankruptcy law
3 Business Environment in the Slovak Republic and Identification of Potential for Risk Funding General characteristics The business environment is improving, but continuing reforms are needed in the banking system, company registration, bankruptcy laws, anti-corruption laws, competition policy, tax incentives for innovation and protection of intellectual property rights. The main problem is low manufacturing productivity coupled with poor investment in and exploitation of R&D. Although education levels are high, qualifications and training do not match business requirements. Efforts are being made to improve human resources but demand for skilled workers is not keeping pace with supply. Despite a strong tradition in ICT, telecom infrastructure is poor. However it may benefit from liberalisation. The eeurope action plan is being extended also to Slovakia. Responsibility for innovation policy is often divided between government departments and agencies. There are no government initiatives promoting collaboration between academy or universities and businesses, supporting new technology based firms and fostering business networking. Slovakia generally score lower than the EU15 on innovation-related indicators.
4 Support measures for SMEs Support Loan Programme Micro Loans scheme Seed Capital Fund Technology Transfer Scheme Implementation of quality management systems Counselling and training Spin-off programme The Agency for Support of Science and Technology
5 Venture capital funds in Slovakia There is a non-functioning capital market that should support the exit phase of venture financing. Commercial banks are not wiling to provide loans to SMEs. Bank loans are necessary for leveraging risk capital investments. There is no government policy and no incentives for venture capital investments. Only two venture funds are present The Czech and Slovak American Enterprise Fund Seed Capital Company
6 Identification of potential for risk funding The main focus is on fast-growing companies. They include predominantly companies with intensive and permanent innovation activities. The specific case is high-tech companies. Comparison between EU and accession countries
7
8
9
10 Statistical survey related to innovations in Slovak SMEs. Innovation activity of SMEs (type of innovation) What part of turnover are costs for innovations Benefits from innovations Financial resources for innovations
11 any innovation imposible no improved new %
12 Did company perform any innovation during ? imposible no service product technology improved new %
13 What are benefits from innovations? other benefits higher export higher turnover lower costs %
14 Did company perform any technology innovation during ? imposible no improved new %
15 financial sources for innovation other risk capital nonbank loan bank loan own %
16 Finnacial resources for innovations other nonbank loan bank loan own financial sources %
17 innovation costs as the ratio of turnover >70% <70% <50% <30% <10% %
18 exports as the ratio of turnover >70% <70% <50% noninnovative innovative <30% <10% %
19 Quality systems in SMEs %
20 Quality systems in SMEs other business services/finances transport/communication construction hotels/restaurants wholesale/retail agriculture/food production manufacturing %
21 Provide companies opportunity for new qualification (more than 4 weeks courses)? %
22 Provide companies opportunity for new qualification (more than 4 weeks courses)? other business services/finances transport/communication construction hotels/restaurants wholesale/retail agriculture/food production manufacturing %
23 Statistical survey related to innovations in Slovak SMEs. About 54% SMEs declared that in the period innovated services for customers, and 47% companies introduced brand new technology or improved existing technology. Brand new technology was introduced mainly in medium-sized SMEs (21%) and in manufacturing companies (20%). About 43% of micro companies (up to 10 employees) did not innovate any technology More than a half of entrepreneurs (51%) declared that their company strategy includes permanent innovation activity Majority of innovating SMEs (71%) considered increased turnover as a dominant benefit. Concrete innovation was of in-house origin or developed by a partner Slovak company (51%) For financing innovation activities, 90% of SMEs used their own resources. When bank loans were used, medium-size companies dominated. The majority of companies declared that innovation costs were less than 10% of their turnover. Competitiveness of the company, expressed by its exporting ability, is positively correlated with its innovation activities.
24 Legislative framework from the point of view of investors and enterprises 1. Commercial Code 2. The Tax System 3. Labour Code 4. Intellectual Property Rights Protection 5. Legal Regulations of Environmental Protection 6. Bankruptcy law
25 1. Commercial Code 1.1 Types of Business Companies 1.2 Process of Establishing a Company 1.3 Registration of a Company 1.4 Foreigners Residence Permit and Work Permit
26 2. The Tax System There are two categories of taxes in the Slovak Republic: 2.1 Direct Taxes Income Tax Road Tax Real Estate Tax Inheritance Tax, Gift Tax, Real Estate-Transfer Tax 2.2 Indirect Taxes Value added tax (VAT) Excise Duties
27 3. Labour Code All employers in the Slovak Republic are obligated to make a written employment contract with their employees. Employment contracts usually include information such as gross monthly salary, and length of probation period (maximum 3 months). An employment contract can be signed for a fixed or unspecified period. The employer and employee can terminate employment by submitting of written notice. An employee is allowed to quit employment without giving a reason if two months notice is given. An employer can immediately terminate employment if: The employee was convicted of a crime In the case of repeated minor offences in the area of discipline The maximum working schedule is 40 hours per week. The employee must receive a minimum of four weeks holiday each year.
28 4. Intellectual Property Rights Protection Industrial Property Office of the Slovak Republic receives and registers, in a chronological order, the applications performs examination for the applications takes decisions on granting patents on inventions and on registering issues patent documents and priority right certificates issues certificates concerning registrations and priority rights Protected objects Inventions Utility models Designs Trade Marks Designation of a product s place of origin Topographies
29 5. Legal Regulations of Environmental Protection The environment in general (law of the environment, law of the state administration for environment, etc.) The protection of nature and the landscape The protection of water quality The protection of the environment and air quality Regional planning and building order Waste management Geological survey and research Risk management and genetically modified organisms
30 6. Bankruptcy law In the stage of problems it is mainly needed to realize business improvement, which is oriented on rescue of a company, based on results of a company analysis or developing of a consolidation programme. If improvement is not successful, company has to be prepared to finish its activities. Closing down a company is in terms of Commercial Code a legal matter, that is legally connected with company dissolution. Dissolution means finishing legal personality of a legal entity. Company closes down in the day of its erasure from Commercial Register. Bankruptcy or composition intention is to arrange property situation of debtor, who is in a state of bankruptcy. According to the law, there are two forms of bankruptcy: bankruptcy debtor has more creditors and does not meet his payable obligations until 30 days after their maturity bankruptcy debtor has more creditors and is in delay; debtor is in delay, when his obligations are higher than his property. After 60 days of continuous delay debtor has a commitment to propose the bankruptcy according to 66 of Bankruptcy law. Starting condition for bankrupt or compensation proceedings is debtor s bankruptcy. Proceeding can start on bankruptcy court. Basic principle of Bankruptcy law is, that no creditor in bankruptcy trial has privileged status and prospective advantages.
31 Conclusions The legislative framework is fully harmonised with the EU legislation, however legal uncertainty and problematic enforcement of law, intransparent and frequently changing legislation that intensifies the standard disadvantage of SMEs represent the large administrative burden. Non-functional capital market that rather negatively impacts upon the development of businesses as capital financing represents one of its traditional tools. In the face of non-functioning capital market, and because of the already mentioned limited access of SMEs to resources, SMEs remain to exclusively rely with respect to the financing of their development on their own accumulated resources. Innovation financing schemes are still scarce. Venture capital funds tend to favour large initiatives or development phase investment, rather than the seed capital needed by start-ups. Guarantee funds, though not exclusively for innovation or R&D investments, exist.
Cambodia Tax Profile. kpmg.com.kh
Cambodia Tax Profile kpmg.com.kh Content 1 2 Tax Profile Income Tax Treaties for the Avoidance of Double Taxation 6 Indirect Tax (e.g. VAT/GST) 7 8 Personal Taxation Other Taxes 9 11 Free Trade Agreements
More information1. What changes are foreseen in the Law on income tax from 1.1.2016?
This newsletter covers the following topics: 1. What changes are foreseen in the Law on income tax from 1.1.2016?... 1 2. Proposed changes to the Tax Code, with effect from 01.01.2016... 2 3. Proposed
More information2015 SBA Fact Sheet Montenegro
2015 SBA Fact Sheet Montenegro Key points Implementing the Small Business Act for Europe (SBA): The SBA profile of Montenegro presents a rather positive picture. Several principles score above the EU average,
More informationTECHNOLOGY TRANSFER FINANCING OPPORTUNITIES AND LIMITS IN EUROPEAN UNION
156 Finance Challenges of the Future TECHNOLOGY TRANSFER FINANCING OPPORTUNITIES AND LIMITS IN EUROPEAN UNION Assoc. Prof. Laura GIURCĂ VASILESCU, PhD Ec. Maria BUŞE Nicoleta DRĂCEA, PhD student University
More informationTHE ITALIAN POLICY FOR INNOVATIVE ENTREPRENEURSHIP
THE ITALIAN POLICY FOR INNOVATIVE ENTREPRENEURSHIP PAOLO CARNAZZA GENERAL DIRECTORATE FOR INDUSTRIAL POLICY, COMPETITIVENESS AND SMES ITALIAN MINISTRY OF ECONOMIC DEVELOPMENT WHY HIGH-TECH STARTUPS ARE
More informationA Guide to a Debt Settlement Arrangement ( DSA )
A Guide to a Debt Settlement Arrangement ( DSA ) May 2013 Contents Introduction... 2 What is a DSA?... 2 Eligibility... 3 What Type of Debts may or may not be included in a DSA?... 4 The DSA Process...
More informationA Guide to a Debt Relief Notice ( DRN )
A Guide to a Debt Relief Notice ( DRN ) May 2013 Contents Introduction... 3 What is a DRN?... 3 Eligibility... 3 Debts which CAN be included in a DRN... 4 Key Features of a DRN... 5 Main steps in the process...
More informationSMEs access to finance survey 2014
EUROPEAN COMMISSION MEMO Brussels, 12 November 2014 SMEs access to finance survey 2014 This memo outlines the results of a survey undertaken by the European Commission to provide policy makers with evidence
More informationInnoEnterprise Project Declan Gordon Carroll
InnoEnterprise Project Declan Gordon Carroll InnoEnterprise Project Support to knowledge based and innovative enterprises and technology transfer to business in Ukraine 1.Organising a conduit structure
More informationINSURANCE. www.advokatskafirmasajic.com
INSURANCE www.advokatskafirmasajic.com Law Firm Sajić is established in a form of a partnership in 2003. With six attorneys and ten expert associates and trainees is the largest law firm in the Republic
More informationExecutive summary of the new Italian legislation on start-ups
Executive summary of the new Italian legislation on start-ups 29 th January 2014 Italian Ministry of Economic Development Minister s Technical Secretariat The steps Italy has taken in order to become the
More informationENTERPRISE DEVELOPMENT STRATEGY Small- and Medium-Sized Enterprises. I. Introduction
ENTERPRISE DEVELOPMENT STRATEGY Small- and Medium-Sized Enterprises I. Introduction I.1 Current Challenge: Most countries in the region are undergoing reforms that are opening their economies to greater
More informationTHE ITALIAN STARTUP AGENDA
THE ITALIAN STARTUP AGENDA POLICIES AND STRATEGIES FOR INNOVATION ITALIAN MINISTRY OF ECONOMIC DEVELOPMENT DG FOR INDUSTRIAL POLICY, COMPETITIVENESS AND SMES MINISTER S TECHNICAL SECRETARIAT 26 TH MAY
More informationTHE ITALIAN POLICY FOR INNOVATIVE ENTREPRENEURSHIP @CORBETTAMATTIA ITALIAN MINISTRY OF ECONOMIC DEVELOPMENT MINISTER S TECHNICAL SECRETARIAT INNOVATIVE STARTUP ESTABLISHED FOR NO LONGER THAN 60 MONTHS
More informationNational Business Centre support services in area of R&D and innovation
Slovak Scientific and Technical Information Centre National Business Centre support services in area of R&D and innovation NPC http://npc.cvtisr.sk Establishment and development of National Business Centre
More informationEuropean Union SME policies. Ulla Hudina
European Union SME policies Ulla Hudina EU Finance Day for SMEs, Athens, 20th January 2009 Supporting SMEs SMEs backbone of EU economy: important players in all value chains; 23 million SMEs (99 % of all
More informationInvestment incentives in Bulgaria
Investment incentives in Bulgaria Types of incentives under the current Bulgarian legislation Tax incentives Incentives under the Investment Promotion Act (IPA) Employment incentives (training and job
More informationThe Role of Government in Supporting Entrepreneurship & SME Development
The Role of Government in Supporting Entrepreneurship & SME Development Mohammed Bin Rashid Establishment For SME Development DUBAI SME 2011 Support for Entrepreneurship Why? Seed pipeline of future enterprises,
More informationSecuritisation Guide
Securitisation Guide Resavska 23 11000 Belgrade, Serbia T +381 11 3094 200 E darko.jovanovic@karanovic-nikolic.com 1. Legal framework 1.1 Is there a special securitisation law (and/ or special provisions
More informationDialogue between the Government and stakeholders a crucial factor for improving Business Environment
Dialogue between the Government and stakeholders a crucial factor for improving Business Environment Anrijs Matīss Deputy State Secretary Ministry of Economics of the Republic of Latvia Brivibas street
More informationSurvey on the access to finance of enterprises (SAFE) Analytical Report 2014
Survey on the access to finance of enterprises (SAFE) Analytical Report 2014 Written by Sophie Doove, Petra Gibcus, Ton Kwaak, Lia Smit, Tommy Span November 2014 LEGAL NOTICE This document has been prepared
More informationConsultation on the future of European Insolvency Law
Consultation on the future of European Insolvency Law The Commission has put the revision of the Insolvency Regulation in its Work Programme for 2012. The revision is one of the measures in the field of
More informationThe Patent Box. Background to the Patent Box regime
The Patent Box Background to the Patent Box regime The UK Government has been keen to improve the UK s competitiveness in the high-tech arena. Companies have been able to elect to enter the Patent Box
More informationCorporate taxation and asset depreciation rules are described in the Fact Sheet on Corporate Tax and Depreciation.
13. Taxation The system of taxation described below is derived from the Czech tax legislation and may be modified by a particular Double Taxation Treaty. The current tax system was introduced in January
More informationResponse Form: European Commission Recommendation on a new approach to business failure and insolvency. February 2015
Response Form: European Commission Recommendation on a new approach to business failure and insolvency February 2015 1. General Information How to respond 1.1 This is a template response form. If you would
More informationCOMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE
EUROPEAN COMMISSION Strasbourg, 12.12.2012 COM(2012) 742 final COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL AND THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE A new European approach
More informationSmall and Medium-sized Enterprises (SME) Forum
Introduction to the Forum The was established in 2005 and acts as a platform for European SMEs to share experiences and provide practical information to support their business success in China. The Forum
More informationEUROPEAN SEMESTER THEMATIC FICHE ACCESS TO FINANCE
EUROPEAN SEMESTER THEMATIC FICHE ACCESS TO FINANCE Access to finance is key to business development. Investment and innovation are not possible without adequate financing. A difficulty in getting finance
More informationRisk Factors Relating to NWR s Debt
Risk Factors Relating to NWR s Debt The following is a brief summary of certain risks related to the 7.375% Senior Notes of NWR due 2015 (the 2015 Notes ) and the 7.875% Senior Secured Notes of NWR due
More informationSources of Financing for Innovative SMEs: Public Sector Funds, Banks, Business Angels and Seed Funds, Venture Capitalists,
Sources of Financing for Innovative SMEs: Public Sector Funds, Banks, Business Angels and Seed Funds, Venture Capitalists, Luigi Amati CEO META Group THIRD WIPO-INSME INTERNATIONAL TRAINING PROGRAM: FINANCING
More informationSetting up your Business in France Issues to consider
Around 20,000 foreign companies are already established, running businesses under many different legal forms. The reforms that France has pursued to improve competitiveness and the business environment
More informationNetherlands. Croatia. Malta. Slovenia. Greece. Czech Republic. Portugal. Compulsory. households actual. social contributions.
Structure and development of tax revenues Table EL.: Revenue (% of GDP) 2004 2005 2006 2007 2008 2009 200 20 202 203 I. Indirect taxes : : 2.3 2.7 2.7.8 2.6 3.5 3. 3.4 VAT : : 6.8 7. 7.0 6.3 7. 7.2 7.
More informationINDONESIAN BANKRUPTCY LAW: AN UPDATE. Meeting held on 27-28 April 2006
INDONESIAN BANKRUPTCY LAW: AN UPDATE by Subianta Mandala Meeting held on 27-28 April 2006 This document reproduces a report by Mr. Subianta Mandala written after the Fifth Forum for Asian Insolvency Reform
More informationLAW ON FOREIGN CURRENT AND CAPITAL OPERATIONS I BASIC PROVISIONS
Law on Foreign Current and Capital Operations In accordance with Article 88 Item 2 of the Constitution of the Republic of Montenegro I hereby pass the ENACTMENT ON PROCLAMATION OF THE LAW ON FOREIGN CURRENT
More information2014 SBA Fact Sheet SLOVAKIA
EN Enterprise and Industry 2014 SBA Fact Sheet SLOVAKIA In a nutshell The Slovakian business economy is heavily dependent on SMEs as they provide 72 % of employment and 67 % of value added, well above
More informationORIGINAL: English DATE: November 1999 E GOVERNMENT OF TRINIDAD AND TOBAGO WORLD INTELLECTUAL PROPERTY ORGANIZATION WIPO NATIONAL SEMINAR ON INNOVATION PROMOTION organized by the World Intellectual Property
More informationEUROPEAN CHARTER FOR SMALL ENTERPRISES
EUROPEAN CHARTER FOR SMALL ENTERPRISES Small enterprises are the backbone of the European economy. They are a key source of jobs and a breeding ground for business ideas. Europe s efforts to usher in the
More informationStarting a Business in Israel
Starting a Business in Israel Inspiration Invention Innovation Content: Page 1. Business Entities....... 2 a. Company...... 2 b. Foreign Company (e.g. a branch)...... 2 c. Partnership...... 3 d. Self Employed......
More informationPursuant to Article 88 item 2 of the Constitution of the Republic of Montenegro I hereby issue the
Pursuant to Article 88 item 2 of the Constitution of the Republic of Montenegro I hereby issue the DECREE PROMULGATING THE LAW ON FOREIGN CURRENT AND CAPITAL TRANSACTIONS (Official Gazette of Montenegro
More informationFinance police authority Of State Revenue Service Tasks of Finance Police Authority
Finance police authority Of State Revenue Service Tasks of Finance Police Authority to disclose and to obviate criminal offences in the field of state revenue and within operations of SRS officials and
More information: CENTRAL EUROPEAN EXPERTS IN KNOWLEDGE MANAGEMENT
: CENTRAL EUROPEAN EXPERTS IN KNOWLEDGE MANAGEMENT March 2014 We have been instrumental in Slovakia s efforts to build knowledgebased economy 2015-2020 Science parks 2008-2012 2009-2012 2011-2015 Larger
More informationLAW ON FOREIGN EXCHANGE OPERATIONS
LAW ON FOREIGN EXCHANGE OPERATIONS This Law shall govern: (Consolidated) 1 I. BASIC PROVISIONS Article 1 1) payments, collections and transfers between residents and non-residents in foreign means of payment
More informationMID-TERM RAPIDE POLICY RECOMMENDATIONS SUMMARY
MID-TERM RAPIDE POLICY RECOMMENDATIONS SUMMARY RAPIDE s fast track status provides a clear channel for policy recommendations developing through the project to be heard by the Commission. The Commission
More informationEstablishment. Objectives. Structure. Target Group. KOSGEB, established in 1990
Tarih / Yer Establishment KOSGEB, established in 1990 Objectives To increase the share and effectiveness of SMEs To strengthen the competitiveness power of SMEs To realize the integration in Industry
More information4. Financial assistance for investors: Grants and incentives
4. Financial assistance for investors: Grants and incentives An introduction from the UK Department for Business, Enterprise and Regulatory Reform There is growing interest from international companies
More informationIsaac A. Vargas Head of Inward Investment
Isaac A. Vargas Head of Inward Investment Why the UK? 5 Attractive tax regime Reduction of corporation tax to 20% by 2015 Most competitive tax regime in G20 R&D tax credits, Patent Box 4 Easy access to
More informationCredit Scoring of SME Using Credit Information Database. Satoshi Kuwahara CRD Association, Japan July, 2015
Credit Scoring of SME Using Credit Information Database Satoshi Kuwahara CRD Association, Japan July, 2015 1. What is CRD? 2. Background of CRD Establishment 3. Credit Bureau & Credit Database 4. Concrete
More informationBANKING BUSINESS (DEPOSITORS COMPENSATION) (JERSEY) REGULATIONS 2009
BANKING BUSINESS (DEPOSITORS COMPENSATION) (JERSEY) REGULATIONS 2009 Revised Edition Showing the law as at 1 January 2013 This is a revised edition of the law Banking Business (Depositors Compensation)
More informationLAW ON FOREIGN CURRENCY TRANSACTIONS. ( Official Herald of the Republic of Serbia, Nos. 62/2006 and 31/2011) I GENERAL PROVISIONS
LAW ON FOREIGN CURRENCY TRANSACTIONS ( Official Herald of the Republic of Serbia, Nos. 62/2006 and 31/2011) The present Law shall govern: I GENERAL PROVISIONS Article 1 1) payments, collections and transfers
More informationTAX CARD 2015 GREECE. Table of Contents
GREECE TAX CARD TAX CARD 2015 GREECE Table of Contents 1. Individuals 1.1 Personal Income Tax 1.1.1 Employment and Pension Income 1.1.2 Income from Individual Practices and Freelance Professions 1.1.3
More information1. Purpose of the scheme:
Please note: this is an unofficial translation provided for your information only and does not have any legally binding effects, only the original French version is legally binding. Framework scheme exempt
More information1.1. Opening Remarks. 1.2. Taxes in Cyprus. 1.3. The Process of Tax Audits in Cyprus. 1 Introduction
1 Introduction 1.1. Opening Remarks After your Cypriot company has been audited and filed the tax return, you do not usually expect any additional tax changes. But in reality the tax story of your company
More informationNATIONAL HEALTH INSURANCE AUTHORITY. Personal Questionnaire
NATIONAL HEALTH INSURANCE AUTHORITY Personal Questionnaire Name of Scheme: Name of Individual: 1. Personal Details (a) Full name: Surname Forenames (b) Any previous name(s) Date(s) changed (c) (d) (e)
More informationThe EMU and the debt crisis
The EMU and the debt crisis MONETARY POLICY REPORT FEBRUARY 212 43 The debt crisis in Europe is not only of concern to the individual debt-ridden countries; it has also developed into a crisis for the
More informationIntellectual Property The Basis for Venture Capital Investments
Intellectual Property The Basis for Venture Capital Investments Mario W. Cardullo, P.E. 1 While technology has been seen as one of the engines for the dramatic economic growth and productivity the United
More informationThe ESTER Project Early Stage Finance Triggering for Eastern Regions
The ESTER Project Early Stage Finance Triggering for Eastern Regions Vittorio Modena - University of Pavia Valdis Avotins Latvian Investment and Development Agency Presentation Outline PART I - Introduction!
More informationFISCAL ASPECTS REGARDING TRADING COMPANIES IN ROMANIA
FISCAL ASPECTS REGARDING TRADING COMPANIES IN ROMANIA Author: Dragomir & Asociatii Law Office Law Firm: Dragomir & Asociatii Law Office Published on: August 2011 Updated on: August 2011 1. Premises In
More informationDeveloping recommendations. Sune K. Jensen. 05. jun. 12. on SME challenges. Good practice on membership services and policy recommendation
on SME challenges Good practice on membership services and policy recommendation Objectives To increase growth among SMEs To increase share of SMEs with international activities To increase the number
More informationSmall Business Initiative. Investing in small businesses, building big economies
Small Business Initiative Investing in small businesses, building big economies Impact: This contributes to creating a vibrant small and medium-sized enterprise (SME) sector, a vital ingredient for a healthy
More informationDebt Resolution, Restructuring & Insolvency Law EAC Perspective
Debt Resolution, Restructuring & Insolvency Law EAC Perspective Arusha, Tanzania August 6, 2012 Antonia Menezes Private Sector Development Specialist - Debt Resolution & Business Exit Investment Climate
More informationTax Relief & Incentives for Start-ups
Tax Relief & Incentives for Start-ups London Tech Week 17 June 2015 Tax Relief & Incentives for Start-ups London Tech Week 17 June 2015 2 www.laytons.com Introduction The UK offers a highly favourable
More informationJ O I N T D E C L A R A T I O N
REPUBLIC OF BULGARIA MINISTRY OF INTERIOR SALZBURG FORUM MINISTERIAL MEETING 15 17 November 2011 RIU Pravets Resort, Bulgaria J O I N T D E C L A R A T I O N On the occasion of their ministerial meeting
More informationCompetition and Dynamism in Tax Policy An International Comparison of Major Reforms and their Lessons for Switzerland.
Executive Summary Competition and Dynamism in Tax Policy An International Comparison of Major Reforms and their Lessons for Switzerland. Study published in German/French by economiesuisse, Zurich, November
More informationEuropean Employment Observatory. EEO Review: Self-employment, 2010. Slovakia. Lubos Vagac Centre for Economic Development.
European Employment Observatory EEO Review: Self-employment, 2010 Slovakia Lubos Vagac Centre for Economic Development July 2010 This article is the sole responsibility of the author(s) 1. Introduction
More informationEmployment in Poland 2012
BRIEFING NOTE Employment in Poland 2012 1. Employment Cost 2. Legal System 3. Employer s obligations 4. Types of employment contract 5. Working time 6. Holiday 7. Sick pay 8. Parenthood rights 9. Mass
More informationFINANCIAL ANALYSIS CS. Sample Reports. version 2008.x.x
FINANCIAL ANALYSIS CS Sample Reports version 2008.x.x TL 19887 (10/14/2008) Copyright Information Text copyright 2004-2008 by Thomson Reuters/Tax & Accounting. All rights reserved. Video display images
More informationSection A Introduction This section asks for information that aims to identify the independence and ownership situation of your business.
Access to Finance Purpose of this survey Access to finance is crucial to business success and an important factor for economic growth in Europe following the economic crisis in 2007. The purpose of this
More informationFunded Risk Sharing Financial Instrument for ICT, Call for EoI No. JER-001/2011/1
Funded Risk Sharing Financial Instrument for ICT, Call for EoI No. JER-001/2011/1 ANNEX 1 1 to the Call for Expression of Interest No. JER-001/2011/1 To: European Investment Fund Attention: Regional Business
More informationENCHANCING PORTUGUESE CORPORATE TAX REGIME
December 2013 ENCHANCING PORTUGUESE CORPORATE TAX REGIME The Parliament has approved the Portuguese Corporate Income Tax Reform. This Reform, which follow largely the recommendations of the Reform Commission,
More informationProtection of Employees Rights in Insolvency
Protection of Employees Rights in Insolvency Introduction Since the beginning of the 21st century, the world faced many economic challenges (to be gentle), the crash of the dot-com bubble in 2000 2001,
More informationBanking and Financial Institutions and Instruments
Courses and Seminars by Subject Matter* *Please note that courses and seminars can change from year to year, and not all courses and seminars may be offered each year. Please consult the most recent course
More informationCanada 2017! A Digital Nation Focus on ICT
Canada 2017! A Digital Nation Focus on ICT Growing Canada s Prosperity Used for Ministerial Briefing www.itac.ca Page 1 Introduction ICT & Canada s prosperity Importance of ICT to Canada s prosperity:
More informationLaw of Georgia On the Investment Activity Promotion and Guarantees
Law of Georgia On the Investment Activity Promotion and Guarantees The present law defines the legal bases for realizing both foreign and local investments and their protection guarantees on the territory
More informationModel disclosure document for franchisee or prospective franchisee
Model disclosure document for franchisee or prospective franchisee The following pages give a recommended format for a disclosure document for a franchisee or prospective franchisee in accordance with
More informationALLOWANCES FOR RESEARCH AND DEVELOPMENT
ALLOWANCES FOR RESEARCH AND DEVELOPMENT This fact sheet covers various tax reliefs that are available in respect of revenue expenditure on research and development (R&D) incurred by small and medium sized
More informationENTREPRENEURSHIP, BUSINESS ANGELS, GRANTS AND GOVERNMENT FUNDS TO ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT
EXECUTIVE PAPERS ENTREPRENEURSHIP, BUSINESS ANGELS, GRANTS AND GOVERNMENT FUNDS TO ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT PRUDENTE, JAIME Instituto de Apoio às Pequenas e Médias empresas e à Inovação
More informationMarket Research Commercial Questions
Market Research Commercial s This document brings together the commercial questions asked at Request for Information (RFI) and Request for Quotation (RFQ) stages of the procurement exercise. All suppliers
More informationGuide to Public and Private Funding
Guide to Public and Private Funding Introduction to public and private funding Key Public Funding Opportunities Key Private Funding Opportunities Which funding opportunity is right for my business? Do
More informationK-12 Entrepreneurship Standards
competitiveness. The focus will be on business innovation, change and issues related to the United States, which has achieved its highest economic performance during the last 10 years by fostering and
More informationBuilding Regional Innovation Capacity: The San Diego Experience
Building Regional Innovation Capacity: The San Diego Experience Presented by Richard Switzer UCSD Global CONNECT San Diego Profile Prior to 1980 Economy dominated by defense, tourism, and real estate Handful
More informationAnnex I to the Open Call for Expression of Interest to select Financial Intermediaries under EaSI Guarantee Financial Instrument
To: European Investment Fund EaSI 37B, avenue J.F. Kennedy L - 2968 Luxembourg EXPRESSION OF INTEREST For the (Counter-)Guarantee in the context of the EaSI Applicant submitting the Expression of Interest:,
More informationReforming the Corporate Insolvency Regime By the Secretariat to the Corporate Law Reform Committee (CLRC) Companies Commission of Malaysia
Reforming the Corporate Insolvency Regime By the Secretariat to the Corporate Law Reform Committee (CLRC) Companies Commission of Malaysia Introduction In our first article An insight to Corporate Law
More informationBankruptcy and Short Sales
Bankruptcy and Short Sales What agents need to know April 2013 Bankruptcy and Short Sales What happens to the short sale if the seller files for bankruptcy? Bank of America can review a short sale offer
More informationI N S T R U C T I O N On Application of the Rules for Providing Loans Under Credit Lines and Loans to Unemployed Demobilized Soldiers
I N S T R U C T I O N On Application of the Rules for Providing Loans Under Credit Lines and Loans to Unemployed Demobilized Soldiers I. GENERAL PROVISION Article 1 The Instruction on Application of the
More informationRegulatory Practice Letter June 2012 RPL 12-11
Regulatory Practice Letter June 2012 RPL 12-11 Mortgage Rule Modifications under CFPB Consideration Executive Summary The Bureau of Consumer Financial Protection ( CFPB ) has announced that it intends
More informationSHARE, GOODWILL & BUSINESS VALUATION SPECIALISTS
SHARE, GOODWILL & BUSINESS VALUATION SPECIALISTS Welcome 1 Executive summary 2 Our focus & offering 3 Our approach 7 Meet the team 8 Our strategy 11 Why engage a specialist 12 How to contact us 13 1 Welcome
More informationBudget 2016 CHANGES IN DUTCH TAXATION FOR 2016. www.fi sconti.com
Budget 2016 CHANGES IN DUTCH TAXATION FOR 2016 www.fi sconti.com Table of contents Changes in Dutch payroll and income tax Tax credits and rates in 2016 ----------- 3 Emigration of substantial interest
More informationFacts & Figures. Incentives in Germany Supporting Your Investment Project
Facts & Figures in Germany Supporting Your Investment Project in Germany at a Glance Germany offers numerous incentives to all investors regardless of whether they are from Germany or not. Funds are provided
More informationEuropean Commission Recommendation on Business Failure and Insolvency The Law Society of Scotland s response March 2015
Consultation Response European Commission Recommendation on Business Failure and Insolvency The Law Society of Scotland s response March 2015 Introduction The Law Society of Scotland aims to lead and support
More informationTHE END OF A BANKRUPT'S PERIOD OF BANKRUPTCY
OFFICIAL TRUSTEE PRACTICE STATEMENT 4 THE END OF A BANKRUPT'S PERIOD OF BANKRUPTCY Date issued March 2013 Date last updated 2 March 2016 If you have any comments, suggestions or queries about an issue
More informationSECTOR ASSESSMENT (SUMMARY): MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT
Women s Entrepreneurship Support Sector Development Program (RRP ARM 45230) SECTOR ASSESSMENT (SUMMARY): MICRO, SMALL, AND MEDIUM-SIZED ENTERPRISE DEVELOPMENT A. Overview 1. Significance of micro, small,
More informationERASMUS FOR YOUNG ENTREPRENEURS : A NEW EXCHANGE PROGRAMME
PRESS DOSSIER INDEX PRESS DOSSIER...1 INDEX...2 ERASMUS FOR YOUNG ENTREPRENEURS : A NEW EXCHANGE PROGRAMME...3 WHO CAN PARTICIPATE?...5 WHAT BENEFITS AND FOR WHOM?...6 HOW DOES IT WORK? STRUCTURE AND IMPLEMENTATION...7
More informationDear Sir, Dear Madam,
Advokátska kancelária/law office Dr. Peter avojský Štefanoviova 12 811 04 Bratislava Slovenská republika Tel.: + 421 2 3266 2046 Fax: + 421 2 5244 4209 Mobil: + 421 902 917 206 e-mail: cavojsky@cavojsky.com
More informationBudget 2014 26 February 2014
1 Budget 2014 Budget 2014 26 February 2014 The Minister of Finance, Mr Pravin Gordhan, today announced a revised consolidated net tax revenue estimate for 2014/2015 of R997,7 billion and a slightly reduced
More information- -- Nashville Bar Association Lawyer Referral Service Subject Matter Requirements and Qualification for the Personal Injury Panel.
- --.-- - -- Nashville Bar Association Subject Matter Requirements and Qualification Personal Injury Panel Statement In order to be referred matters on the Personal Injury Panel, an attorney must be an
More informationNEW CONCEPT OF INCOME TAXATION IN THE CONTEXT OF TAX REFORM OF THE SR
11 NEW CONCEPT OF INCOME TAXATION IN THE CONTEXT OF TAX REFORM OF THE SR Ing. Ivona Ďurinová Over the past two years there has been much discussion of the flat-rate tax not only in professional circles,
More informationReform of In-Court Restructurings in Germany New Options and Implications for Creditors, Debtors and Shareholders
BANKRUPTCY & REORGANIZATION/FINANCE CLIENT PUBLICATION March 2012... Reform of In-Court Restructurings in Germany New Options and Implications for Creditors, Debtors and Shareholders... With effect as
More informationList of provisions for consumer protection
List of provisions for consumer protection Type of provision Lending platforms Equity and/or Debt platforms Maximum amount of investment for 40.000 Euro 20.000 Euro consumers on the platform Maximum frequency
More informationMonaco Corporate Taxation
Introduction Monaco is a sovereign principality. France is a guarantor of the sovereignty and territorial integrity of Monaco, while Monaco is to conform to French interests. Although the Prince is the
More informationSME support under Horizon 2020 how to make it work
SME support under Horizon 2020 how to make it work Olivier Brunet Unit Regional dimension of innovation Directorate General Research &Innovation European Commission The Multiannual Financial Framework
More information