The draft amendment to the Accounting Act was delivered to the National Council of the Slovak Republic on 30 August 2021. The aim of the amendment will be to enable entrepreneurs to use electronic accounting to a greater extent. At the same time, the intention is to increase the transparency of information upon publication of financial statements in the Register of Financial Statements.
The main proposed changes include the following:
- it will be possible to scan an accounting document in hardcopy without the obligation to use a secured conversion; this procedure will also be applicable to accounting records prepared before the amendment came into force;
- it will be possible to store documents in an electronic form directly in the entrepreneur’s own accounting system;
- the entrepreneur will be able to replace the personal signature with any electronic form of a signature that allows its unambiguous provable identification;
- a new obligation is introduced to inform the tax office about the ensuring of the accounting documentation storage before dissolution of the enterprise without a legal successor or before the actual termination of business or other self-employment activity;
- the financial statements of all legal entities will be published in the public part of the Register of Financial Statements; the accounting documents of individuals – entrepreneurs and branches of foreign head office – would remain to be published the non-public part;
- it is proposed that all accounting documents will be filed in the Register of Financial Statements in an electronic form;
- the requirements for the annual report of non-profit organisations are set out if the content of the annual report is not defined.
The amendment is proposed to enter into effect on 1 January 2022.
