PROFIT DISTRIBUTION AND PAYMENT OF DIVIDENDS IN CERTAIN COMMERCIAL COMPANIES AND COOPERATIVES IN TERMS OF ACCOUNTING AND TAX LEGISLATION OF THE SLOVAK REPUBLIC AND THE EUROPEAN UNION

Profit or loss for the accounting period after taxes, specifically net profit is conditioned by the legal form of a business as well as the subject and the range of a business. The aim of the article is to analyse the development of the accounting result in the selected sample of companies of agricultural primary production in the Slovak Republic. Therefore, the research tasks are to evaluate the issues of the accounting result, profit distribution and dividend payment pursuant to the current accounting and tax legislation in the Slovak Republic and the EU. The most common business forms in the agriculture of the Slovak Republic are presented by companies with limited liability, joint stock companies and cooperatives. The authors resulted that in the observed years 2004-2014, except for the years 2011 and 2014, significant differences arose from the statistical testing of profit or loss in the selected sample of companies of agricultural primary production in the Slovak Republic. The development of mean values of accounting result in commercial companies and agricultural cooperatives was characterized by the fluctuating progress. Further, the result of the study shows that the purpose of net profit usage is not exhaustively determined, except for the regulations of the Commercial Code. Dividend from the profit reported for the accounting period 2014 paid by a company with a limited liability, a joint stock company or a cooperative in the year 2015, assigned to the distribution to shareholders, is exempt from personal and corporate income tax. Above mentioned statements relate to the payment of dividends to persons with the domicile or registered seat outside of the Slovak Republic.