For a long time the Act on Investment Aid in the Slovak Republic has regulated investment aid provided by the state budget to domestic and foreign entrepreneurs and investors. Investment aid may be provided in the following forms: financial grants from the state budget; income tax relief; grants for newly established employment positions or transfer of state property to the entrepreneur for a price lower than the given market price. Entrepreneurs can obtain investment aid in some of the listed forms for a project in one of the supported areas. The supported areas are: industrial production; technological centres; and, centres of strategic services and tourism. Providing investment aid for these areas was changed by extensive amendments to the Act on Investment Aid in force since May 1 2013.
October 30, 2013