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.