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Awards & Deals


  • Law Firm of the Year 2019, Slovakia

    Twice in a row HKV became the absolute winner in the category Mergers & Acquisitions of the competition Law Firm of the Year 2019.

  • Chambers Europe 2019, Slovakia

    "They are very reactive; when I send them a query they immediately get to work and get it done by deadline or even earlier."

  • Chambers Europe 2019, Slovakia

    "They go the extra mile. They try and engage us on a business level, not just a legal level."

  • Chambers Europe 2019, Slovakia

    "They are very hard-working and very flexible with regards to timing. There are no delays, they try to deliver as soon as possible. They are very experienced, so they take care of everything independently."

  • (IFLR 1000 2019, Slovakia)

    The IFLR1000 guide ranked HKV in the categories Banking and finance, Project development and M&A for the year 2019.

  • (Law Firm of the Year 2018, Slovakia)

    HKV became the absolute winner in the category Mergers & Acquisitions of the competition Law Firm of the Year 2018.

  • (Law Firm of the Year 2018, Slovakia)

    HKV was ranked among the „highly recommended“ and „recommended“ law firms in the categories Corporate Law, Developer Projects and Real Estate, Banking and Finance, Completion and Restructuring & Insolvency.

  • Law Firm of the Year 2017, Slovakia

    HKV named as the “highly recommended law firm” in seven categories of the competition Law Firm of the Year 2017: Corporate Law, Competition, Developer Projects and Real Estate, Mergers and Acquisitions, Banking and Finance, Employement and Public Procurement.

  • Legal 500 2017, Slovakia

    Legal 500 guide for the year 2017 identified HKV in five ranking categories: Banking, Finance & Capital Markets; Commercial, Corporate and M&A; Employement; Projects and Energy and Real Estate and Construction.

  • IFLR 1000 2017, Slovakia

    “They have deep knowledge in all areas, provide quick reactions and deliveries and have done a good job recently,” says a client who worked with the firm on project finance.

  • Chambers Europe 2017, Slovakia

    HKV ranked by the Chambers Europe 2017 in the categories Banking & Finance, Corporate/M&A, Employment, Energy, Real Estate and Restructuring/Insolvency.

  • Chambers Europe 2017, Slovakia

    Peter Víglaský is admired by clients and highlighted for his "excellent knowledge of the international environment."

  • Chambers Europe 2017, Slovakia

    Well known as a practitioner who "makes deals happen," Roman Hamala is appreciated by his clients, who say: "He can anticipate future problems and avoid them or provide solutions before we ask."

  • Chambers Europe 2017, Slovakia

    Martin Kluch impresses clients with his "pro-deal" attitude. He is described as "technically very good, very pragmatic and personable. We get clear answers from him. He provides business-oriented advice."

  • IFLR 1000 2017, Slovakia

    The IFLR1000 guide ranked HKV in the categories Energy and Infrastructure and Financial and Corporate for the year 2017.

  • IFLR 1000 2017, Slovakia

    „The approach that we have experienced was client friendly, pro-active and practical,” says a client from the energy industry.


News



Amendment of the Act on Value Added Tax to regulate cross-border trading


The Ministry of Finance of the Slovak Republic has implemented an amendment to the Act on Value Added Tax (the VAT Act), which was finally approved by Parliament on 15 October 2019. The transposition of several European directives and the adoption of the amendment will make cross-border trade easier.

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The amendment will affect most VAT payers doing business transactions within the European Union with goods known as call-off stock. This is one of the most significant changes in the rules of trade between EU Member States. According to the amendment, a VAT payer who transports or sends goods to the territory of another EU Member State must first transport them before the ownership is transferred to the customer whose identity has been established in advance.

Up till now, such goods which a taxable person moved to another Member State for the purpose of doing business were subject to VAT at the time of their supply. With the introduction of the new rules, this kind of transaction becomes subject to VAT after the transfer of the ownership right to the buyer who acquires the right to dispose of the goods as their owner.

Other amendments relate to taxable persons trading in stored crude oil, diesel and petrol. The new rules will fill a legislative loophole that did not include uniform VAT legislation for the intra-Community movement of goods.

As of 1 January 2020, the Slovak Republic will also be allowed to transpose into national legislation VAT exemptions on goods from international transactions that are located in customs or other warehouses. This tax exemption will allow trading in stored crude oil, diesel and petrol on international exchanges.

The harmonization of this legislation will increase cross-border trade and improve the legal certainty with a positive impact on the business environment. It is expected that this amendment will result in increased income for warehouse operators, an increase in related services and a significant reduction in the administrative burden for traders in these commodities.

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New rules for funding political parties and election campaigns


The National Council of the Slovak Republic approved an amendment to the Act on Election Campaigns and the Act on Political Parties which will mainly affect the financing of campaigns before the elections to the National Council in March 2020.

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The bill has provoked a great deal of controversy, first of all because it was presented by Members of the National Council, and thus it did not have to go through the interdepartmental comment procedure. In fact, only proposals which are submitted by the Government are subject to the interdepartmental comment procedure where the most important state authorities are permitted to express their opinions. Critics argue that the bill heavily interferes in election campaign conditions and that it would be more appropriate for the Government to submit it and have it undergo the comment procedure.

Furthermore, the petitioners asked the Government to submit a proposal for an accelerated legislative procedure in which standard procedural time limits for approval are waived. It should be noted that only the Government may submit a proposal for an accelerated legislative procedure.

The Government approved this request and the National Council approved the Government proposal at the next vote on the same day. This step also seemed problematic because it was not clear if the conditions for accelerated legislative procedure had been fulfilled; such procedure should only be applied under exceptional circumstances, such as when fundamental rights and freedoms, state security or significant economic damage are at risk.

The content of the Act itself is also controversial as it will prohibit the participation of so-called third parties in election campaigns. This relates to people who supported a party or candidate in an election but were not members of a party or a candidate. At the same time, the membership contribution that a party may receive from a single member is limited to EUR 10,000 per year. The amendment also introduces an overall financial ceiling of EUR 3,500,000 per one term of the National Council, (i.e., four years) from membership contributions, donations and loans granted to a party. Exceeding this limit will result in the automatic dissolution of the party.

The law has also caused an outcry as it places parties that have not yet stood for election to the National Council at a disadvantage. As opposed to parties that have been elected to the National Council, they cannot fund their election campaigns from financial resources provided by the State (A party that gains at least 5% of the votes in National Council elections gains seats in the National Council and receives State funding). These newly created parties will only be able to fund their campaigns from contributions from members or other entities, with the new rules limiting the amount of these contributions.

The law is effective from the date of its submission to the Collection of Laws.  However,  this may be prevented if the president vetoes the law and the National Council does not have enough votes to override the veto.

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