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Taxation in Slovakia

Taxation in Slovakia

Updated on Tuesday 08th December 2015

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An EU member state since 2004, with a strong, growing economy, Slovakia has a tax system that resembles other EU states' taxation bodies. This means that the taxes are taken up by the local and federal governments. For further information about the taxes in this country or about the economical system, please contact our law firm in Slovakia.
The tax system in Slovakia includes a range of perceived taxes:
  • - personal income taxes;
  • - corporate tax;
  • - value-added tax (VAT);
  • - special taxes.

Personal Income Tax in Slovakia

The country has abolished its flat tax rate, therefore, the current personal income tax rate in Slovakia is progressive, with 19% for up to EUR 34,401.74 and 25% for what exceeds that amount. This is in effect as of the first month of 2015, having reached the highest point of 42% in 1996 and the lowest of 19% in 2004. 
The income tax is imposed on various sources of income, such as work, interest, dividends or pensions. Non-residents have to pay only the tax on income and also on capital gains in the Slovak Republic. In some cases the double taxation treaty can be applicable to individuals who do not have a Slovakian residence. Our Slovak lawyers can provide further information on the subject, so feel free to contact our team.

Corporate Income Tax in Slovakia

The current corporate income tax rate is 22%, with each company having a registered office in Slovakia. Non-resident legal structures have to pay taxes only on the income that arises in the Slovak Republic. Our Slovak law firm can provide you with assistance concerning taxes in this country.
The corporate income tax must be submitted within three months of the date on the balance sheet. However, this period can be extended if the tax office is announced.

VAT in Slovakia

The standard value-added tax rate is currently 20%, but it can be calculated either on sales prices or on the customs value, thus there are two rates: one of 20% and one of 10%. The VAT in Slovakia is imposed on the consumption of services or goods. 
For counselling or further information on the taxation system or on how to establish a business entity in this country our solicitors in Slovakia can help you.


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