Slovakia in Figures - AmCham · E: of¿ [email protected] W: H T: ((E W • 19 –ears in Slovakia • 20 – AmCham members • 320 – Number of members • 100,000 –employees membership
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SLOVAKIA
SLOVAKIA
Agreement with EU to mint Euros
The LargestEconomy in the WorldGDP in 2012:EU: €12.9 trillionUSA: €11.8 trillion
19• – Years in Slovakia20• – Percentage of Slovakia’s GDP produced by AmCham members320• – Number of members100,000• – Number of employees in AmCham membership15,500,000,000• – Turnover in EUR of our top 100 companies
Crowne Plaza, CCrorownwnee 19 – Years in Slovakia–
Petržalka in Bratislava - The most dense urban area in Central Europe
Developed Infrastructure
Kia in Slovakia - State-of-the art production facility
Productive and Modern Industry
Tatras - View from Štrbské pleso
Beautiful Nature
Achieve outstanding results.We help companies become and stay leaders in their markets.
The fastest desktop Internet; the 10th fastest mobile Internet - excellent IT infrastructureThe most productive labor force in OECD - the highest return on labor investmentThe lowest labor cost in Eurozone
The Best Deal in the Eurozone = Slovakia
SSLLOOVVAAKKIAAVVAAKIAKIIAA
SLOVAKIA
Agreement with EU
gg
sto mint Euros
Theh LargestEconomy in the WorldGDP in 2012:EU: €12.9 trillionUSA: €11.8 trillion
The fffaaaasssstttteeeesssstttt ddddeeeesssskkkkttttoooopppp Internet; the 10th fastest mobile Internet - excellent IT infrastructureThe most proooodddduuuuctive labor force in OECD - the highest return on labor investment
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Population – 5.4 mil. (Similar to Denmark, Finland, Singapore, Minnesota, or New Zealand)
Literacy: 99%. Life Expectancy: 80 yrs. females; 72 yrs. males. (2011)Total Area: 49,000 sq km / 18,933 sq mi Slightly larger than Denmark(43,000 sq km), Netherlands (42,000 sq km), or Switzerland (41,000 sq km); slightly smaller than Costa Rica (51,000 sq km). *Unofficial estimates place the Roma population between 6%-10%.
ReligionsEthnicity
Hungary
Czech Republic
PolandMain Slovak Academic and Research Clusters
Bratislava
Trnava
Nitra
Trenčín
Žilina
Prešov
Košice
Poprad
Banská Bystrica
Zvolen
[74 000], (6.2%)
[19 000], (9.8%)
[12 000], (20.1%)
[18 000], (19.5%)[29 000], (18.7%)
[23 000], (14%)
[19 000], (12.6%)
[10 000], (11.1%)
Austria
Ukr
ain
e
Lower end production
Higher end services
[number of students at universities and colleges]
(unemployment in regions)
Total nunber of college and university students 205 000Source: Slovak Statistics Office, 2013
Page 2
No religion 13,4%
Roman Catholic 62%
Not specified 10.6%
Evangelical Methodist 0.2%
Jehovah's Witnesses 0.3% Orthodox 0.9%
Reformed Christian 1.8% Greek Catholic 3.8%
Evangelical of the Augsburg Confession 5.9%
Hungarians 9%
Czechs 0.6%Roma* 2%
Other 7%Rusyns 0.6%
Slovaks 81%
Politics & Ratings The 2nd highest rating in V4 region
President Ivan Gašparovič (2004 - 2009; 2009 - spring 2014)
Prime Minister Róbert Fico (2012 - spring 2016)Smer-SD
Government Type: Parliamentary democracy.Independence: The Slovak Republic was established January 1, 1993 (former Czechoslovak Republic established 1918). Branches: Executive - President (head of state), Prime Minister (head of govern-ment), cabinet. Legislative - National Council of the Slovak Republic (150 seats).
Nové ZámZáZámkyZámkyN é ZáZNové Zámám40 00040 0004
noKomárrnnoomárnnoKomárrn40 000440 0004
eracy: 99%. e Expectancy: 80 yrs. females; 72 yrs. males. (201111)al Area: 49,000 sq km / 18,933 sq mi ghtly larger than Denmark(43,000 sq km), NeNeththere lalands (4(42,2,000000 sqsq kkm)m),Switzerland (41,000 sq km); slightly smallerr tht anan CCosostat RRicca (5511,00000 0 sqq kkm)m). *Unofficial esestimatemates pls place ac the Roma population between 6%-10%.
ReligionsEtE hnnicicityyNoNo religion 13,4%
Roman Catholic 6
NotNot spspecified 10.6%
EvaEvangengeliclicalal MMethodist 0.2%
JehJehovaovah'sh's Witnesses 0.3% Orthodox 0.9%
Reformed Christian 1.8% %Greek Catholic 3.8%
Evangelical of the AugsburgConfession 5.9%
HHungargarianss 9%9
CzeCzechshs 0.0 6%6RoRoma*a* 2%
Othheer 7%%rRusRusyns 0.6%
Slovaks 8118181%%%%
olitics & Ratings The 2nd highest rating in V4 reg
ent ašparovič- 2009;- spring 2014)
Prime Minnistis er Róbbertert FiF co(202012 - spriing ng 2012016)Smer-Sr-SD
Goovevernrnmementnt
TyType: PPararlil ammene tary demococraracycy..InIndependenencec :: TThe SSlolovavak k ReReppublic was established January 1, 1993(f(forrmem r Czechoslovovakak RRepepubublic established 1918).Brrana chchese :ExExecututivive -- PrPresesididenent t ((head of state), Prime Minister (head of govern-meent) ccababininetetmeent), ccababiinetet..LeLegislslatativivee - NaNatitional Council of the Slovak Republic (150 seats).
Countries Ratings (Oct 1, 2013)MMOOODY SS&P FIT
SKK A2 A ACZ A1 AA- APL A2 A - AHUU BAA1 BB BB
Highest rating
Source: Slovenská Sporiteľňa, 2013
Top 8 ICT companies: Employees At Year End
Juudidicicialal - SSupreme Court, Constitutional Court.pPoPolilititicacall parties: p y 150 parliamentary seats:
Mobile Data Connection:Orange: 42.2 Mbps download / 5.8 upload (72% of population) FTTH (Fiber To The Home) 100Mbps download / 100Mbps upload: available in 17 cities to 15.9% of population.Slovak Telekom: 42 Mbps download / 5.8 uploadInternet optik: 80 Mbps download / 8 upload available in 22 cities to 368,000 households.O2: 14.4 Mbps download / 2 upload100 Mbps download / 20 upload (pilot LTE technology)Various options of high-speed Internet are available through landlines and satellite operators.
Internet:Fastest desktop Internet in the world10th fastest mobile Internet in the worldsource: Google, Inc., 2012
Easily accessible from Western Europe - Bratislava only 70km from Vienna, Austria
Slovak labor is the most productive in the Eurozone. Labor costs are the lowest. Skilled workers are readily available. Labor laws allow more flexibility for employers than those in the other Eurozone countries.
Mobile service operators: Orange, T-Mobile and O2
Export/Import by countries in 2012# Export % Import %1 Germany 21,3 Germany 16,42 Czech Republic 14,1 Russia 11,53 Poland 8,1 Czech Republic 10,64 Hungary 7,2 South Korea 6,45 Austria 6,7 China 66 France 5,4 Poland 4,17 Italy 4,7 Hungary 4,18 Russia 4,2 Italy 3,49 United Kingdom 3,9 France 3,4
10 Netherland 2,3 Austria 2,3Others 22,33 Others 31,8
Source: Ministry of Economy, August 2013
Year Import (mil. €) Export (mil. €) Trade Balance2011 55 768 56 783 +1 0162012 59 224 62 833 +3 609
Change +3 456 +6 050Source: Ministry of Economy, August 2013Source: OECD, 2013
Mobile Data Connection:Orange: 42 2 Mbps download / 5 8 upload (72% o
ly accessisiblee frfromo WWesternrn EEuuropope e - BrBratatisislava only 70km from Vienna, Austria
Slovvakak llaba orr iis ththe e momosts pproroduductctivivee iin the Eurozone. Labor costsththe lowwestt. Skilleled wworkerrss araree rereadadilily available. Labor laws allowfflexibilityy ffor eempmploloyeersrs tthahan n ththoose in the other Eurozone countries
Mobile service operators: Orange, T-Mobile an
6 France 5,4 Poland 4,17 Italy 4,7 Hungary 4,18 Russia 4,2 Italylyly 3,49 Uniitedtedte KKingdoom 3,9 FrFrarFrF ncecece 3,4
10. 17. Kaufland Slovenská republika, v.o.s., Bratislava 4 006 3 523 13,7 483 -799 n n n 7 768 164 840Source: Trend, Top 200, July 2013
General Government Debt (% of GDP) Labor cost of producing $100 GDP in 2012
Source: EUROSTAT, 2013. Selected countries only.
201020112012
0 30 60 90 120 150 180
Italy
Greece
Portugal
Belgium
France
United Kingdom
Cyprus
Spain
Germany
Hungary
Austria
Netherlands
Poland
Slovakia Slovakia
0 20 40 60 80 USD
Sweden
Denmark
Finland
Belgium
Italy
France
Austria
Norway
Netherlands
Germany
United Kingdom
Luxembourg
Greece
Spain
Ireland
Slovenia
Portugal
Czech Republic
Estonia
Poland
Hungary
2x Slovakia 3x Slovakia29.6
32.5
32.5
38.3
42.4
44.4
49.8
50.5
51.9
53.4
53.7
55.9
64.5
65.7
68.9
70.2
71.0
72.5
74.3
77.7
79.1
88.1
Sources: GDP per hour worked: OECD. Labor cost per hour worked: Eurostat. Exchange rate USD/EUR used was the average of 2012. Calculations: ECENTER. All countries with data available are presented
41.0
54.8
63.4
72.3
81.8
82.5
61.5
61.3
78.4
82.4
95.6
93.4
119.3
148.3
43.3
56.2
65.8
72.8
81.4
80.0
69.3
71.1
84.1
85.8
97.7
108.0
120.8
170.6
53.3
56.1
72.5
75.0
80.5
81.8
85.4
86.2
88.3
90.0
100.5
119.9
126.2
175.8
% $
op Slovak Companies LLLLaaaargeeeesssstttt ccccoooommmmpanies: 14,500 employees, € 6.6 bil. in sa
The eee LaLL rgrgrggesesesst NoNoNoNonfnfnfnfininini anananancicicicialalala CCCCompanies (Sl((( ovavaovava Hk HHH adeadeadeadquaqquaquarterterterter Lr Lr Lr Looocao tion)
Total sales(EUR 1,000)
Change (%) Value added/total sales (%)
After - tax profit(EUR ´000)
Average numberof employees Sector
2012 2011 2012/11 2012 2011 2012 2012
Volkswaggen Slovakia a sa sa Braatisslava 6 587 443 55 1192 936 266 9 8 5 7 8 170 306 9 400 Automotiv
Rank in TOP 200
The Largrgrgrgesesesesttt EmEmEmEmplplplployoyoyoyerererers sss inininn SSSlololol vakia(S(S(Sl(S ovavvavak HHHHeadeadeadeadquauaquaartertrtrt r Lococcac tion)n)n)n)
Aveeeeragggge numumbumum er erererof of f eeempe loyeeseseses
Changengengenge (%)(%)(%)(%)
Incncncncrearerearease (decrease) in nnnumn ber of employees
Sources: Gs: GDP peDP per hour hour worr worked:ked: OOECD. Labor cost per hour worked: Eurostat. Exchange rate USD/EUR used was the average of 2012. Calculations: ECENTER. All countries with data available are p
8 Universal Media Corporation /Slovakia/ s.r.o. 21,038,282 2004
9 KIA Motors, s. r. o. (Project 3) 15,070,000 2009
10 Johnson Controls Lučenec, s. r. o. 13,333,333 2006Source: SARIO, Ministry of Finance of the Slovak Republic
Corporate income tax: 23% (planned to decrease to 22% since January 1, 2014)
Capital Gains tax: 23% Withholding tax: Interest: 19%, Royalties: 19% Dividends: Not subject to tax VAT (Value Added Tax or Sales Tax):
20% - almost all products and services10% - textbooks and most healthcare related
products Tax exemption: Postal Services, Health Care, certain
Financial, Insurance and other Services Personal Income tax and Capital Gains tax: 19%. It is
25% when the tax base is over EUR 34,401.74. Foreign persons can be subject to Slovak taxation if
they spend more than 183 days of the calendar year in Slovakia.
Excise tax: imposed on certain types of goods: mineral oils, liqueurs, beer, wine, tobacco products, electricity, coal and natural gas.
There are three Real Estate Property taxes: 1) land tax and 2) tax on apartments and non-residential premises within apartment buildings 3) tax on buildings.
Tax on land is levied at 0.25% of the tax base which would be assessed by the municipality. Rates vary depending on the type of land and its location.
Real Property tax: Tax on buildings - depending on the municipality, it is usually between Eur 0.03 to Eur 0.33 per sq. m. of the floor area.
Real Estate tax: Transfer tax was abolished in 2005; Capital gains are taxable as regular income tax.
VAT registration is obligatory for entities with revenues exceeding 49 790 EUR within 12 consecutive months.
A taxable person not having the seat, place of business, fixed establishment, domicile or habitual residence within the country (hereinafter referred as a „foreign person“) must file an application for tax registration at the Tax Office Bratislava before commencing an activity that is subject to tax.
There are special taxes imposed on certain assets (i.e. vehicle road tax).
Some adjustments are expected to be introduced in 2014.
State aid in regions:Bratislava: 0%Western Slovakia: 40%Central Slovakia: 50%Eastern Slovakia: 50%(Percent value represents maximum level of state
aid contribution per project in a specific region.)
Source: Ministry of Finance of the Slovak Republic, September 26, 2013.
axes, State Aid,,,, SSSSuuuubbbbsssiiiiddddiieeeessss, annnndddd SSSSuuuuppppppoooorrrrtttt Simple tax system; Available state
The Largest State Aid Projects# Company/Project State Aid (Eur) Ye
1 KIA Motoorrs, s. r. oo. (Projecctt 1) 135,225,371 20
2 PCA Slovvaakia, s.r.r.o 120,543,491 20
3 Mobis Sloovakia, ss. r. o. 35,581,970 20
4 AU Optroonnics Slovvakia 34,900,000 20
5 KIA Motoorrs, s. r. oo. (Projecctt 2) 34,134,573 20
6 SONY SLLOOVAKIA,, spol. s rr..oo. 31,381,551 20
orate income tatax: 23%23% (pl( annnned to dececreare se e to t% since Januaary r 1, 2014))al Gainsns taxtax: 2: 23%3%
holdldining taxtax:: IntInterest:t: 19%19%, RoyRoyaltaltiesies:199%enends: NotNo subjebject c to o taxtax(Valueue Addedded Tax oor Salales Tax):20% - almomost allall prproduoductscts anand s serverviceicess0% - textbooooks k andnd moost st heahe lththcarcare re related
productsti P t l S i H lth C t i
TaTax x on on lanland is levied at 0.25% of the tax base which wouwoulld be assessed by the municipality. Rates varydepending on the type of land and its location.
Real Property tax: Tax on buildings - depending on the municipality, it is usually between Eur 0.03 toEur 0.33 per sq. m. of the floor area.
Real Estate tax: Transfer tax was abolished in 2005;Capital gains are taxable as regular income tax.
VAT registration is obligatory for entities withrevenues exceeding 49 790 EUR within 12
tax system is compmplilianantt wiw thh thee ttaxax ssysystems of the EU
u o onee ( ea g o th) %% 8 1.5 0 7 0 5 0 9ehold conssumption real growth %% -0.3 3.2 2.0 0.8 2.2 2.2.92 3.ehold conssumption nominal groowtth %% 0.6 3.4 3.1 2.0 2.5 4.333 4.