Resident companies are those which have their legal seat or place of effective management in the Slovak Republic. Corporate income tax stands at a rate of 21%. This is the final tax on 2019 profits of a corporate because dividends paid in 2019 are not taxed to shareholder if the shareholders are corporate. When setting up a business, there are some points that should be ensured: -Prepare the registration for company income tax -Record accounting -Prepare company tax return for income tax -Meet the payments deadline for income tax -Meet the deadline for filing company tax return. Speaking of taxable profits of a corporate, there are included: -Money that come from doing business or any other activity -Money that come from selling assets for a higher price than their costs. -Money that come from other utilization of the property of the company. • If the corporate is based in Slovakia Republic, the object of taxation is the income coming from the sources within the country and from the sources out of the country. In the case the corporate is not based in Slovakia Republic, the object of taxation is only the income coming from the sources within the country. Property or real estate tax  is imposed on individuals or companies that are owners of a building, flat, land and non-residential spaces. According to the type of property there are classified 3 kind of taxes: tax on land (land tax), tax on building (building tax) and tax on apartment (apartment tax). The amount of annual property tax is mainly dependent on the area of the occupied land(measured in sq. meters), purpose of the property, number of floors etc. The amount of annual tax rate is highly effected by the specific tax rates that are set by municipal authorities. The property tax is compensated by the legal registered owner. In the case that this registered owner is not determined, the burden of the tax falls to the person who uses the property. The property tax is under the rule of “Act on Local Taxes”. The time after the collapse of the soviet, a long range of range of reforms have been made, to bring the country from a government run economy to a free market economy. A large tax reform was enacted in the year 2003. It included a long range of reforms including abolishing most deductions on the income tax, and bringing it down to a flat rate of 19% instead of a progressive rate from 10% to 38%. The corporate tax fell from 25% to 19%. Furthermore, the two rates of VAT 14% and 20% were merged into one band of 19%.