Taxes in Slovakia
Taxation in Slovakia can be called low in comparison with the taxation of neighboring European countries. Taxation in Slovakia includes the following types of taxes:
- income tax 21% for a company and 19% for a private entrepreneur;
- VAT 20%;
- excise taxes;
- property tax;
- vehicle tax;
- other local taxes.
What are the taxes
There are direct taxes, indirect taxes, and fees in the Slovakia. Each group has Its own rules and conditions.
Corporate income tax
One of the main taxes that business entities are required to pay is on the profits of legal entities. Resident enterprises are required to pay a fee to the budget on all profits from their entrepreneurial activities.
Withholding tax
Corporations are taxed only on corporate profits: since 2017, Slovakia has introduced a 7% tax on dividends at the shareholder level, but there are ways to avoid it. Since dividends are usually taxed in the country of residence, a foreign partnership may be the right solution.
Personal income tax
The income tax rate is 21%. There is no separate capital gains tax in Slovakia. Capital gains are included in the income tax base and are taxed at a rate of 22%.
Request bookkeeping solution
If you have a company in Slovakia, it is mandatory to do accounting and complete all taxation rules according to Slovak Republic laws. Our company provides consultations and highly qualified accounting solutions, on issues of legislation and taxation. We offer full accounting support in Slovakia. Please feel free to contact us and get quality accounting service in Slovakia with us!
Tax system
The taxation system of the Slovak Republic is similar to that of other European countries. The following taxes are levied in the Slovak Republic: VAT, income tax, real estate tax, road tax, property tax, gift and inheritance tax, excise tax, real estate transfer tax, and tax on environmental protection.
Direct tax
Corporate income tax (corporate income tax), personal income tax, council tax levied by the government on behalf of the communes, property tax, a land tax levied by municipalities independently.
Indirect tax
VAT, excise taxes on fuel, tobacco, alcohol.
Fees
Annual registration tax, registration and stamp duties, import duties.
Business in Slovakia
Our company provides services for setting up a company in Slovakia. The specialists of our company have the necessary knowledge, experience, and qualifications. We can offer a consultation with taxes in Slovakia. Besides, we also provide business support, accounting, and other services necessary for your business. Our specialists have vast experience in this field of activity. We will be happy to help you successfully open a business in the Slovak Republic.
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