Before you form a company in Slovakia you shall get some info about taxes in Slovakia. Tax system in Slovakia is similiar to those of other EU member states. The Slovak tax system includes the following types of taxes:
– corporate income tax (22%),
– personal income tax (19% tax rate that grows up to 25% depending on income),
– VAT ( 20% standard rate, 10% special rate for certain goods),
– contributions to social security and health care insurance,
– excise tax ( tobacco, alcohol, wine, mineral oil),
– municipal taxes ( real estate tax, motor vehicle tax).
Taxes in Slovakia -VAT
VAT is fully harmonised and complies with EU VAT. Business entuty must register for VAT when its turnover ina a12 months period reaches EUR 49.790. The VAT rate is 20%, except for specific goods, to which a 10% rate is applicable.
Other obligations concerning taxes in Slovakia:
All the entities making business in Slovakia or they rent real estates in Slovakia are obliged to register at Tax office until the end of month following the month when they started to make business or they started to rent the real estate.
Minimum Tax ( Tax license)
In general, following the updates of legal regulations the legal entity after its 1st year of existence shall pay the minimum tax based upon the income, and based upon the fact of being a VAT payer or not, where the minimum tax for non VAT payer is 460 EUR, and a minimum tax for VAT payer is 960 EUR. The minimum tax is payable on the day when the tax declaration shall be deposited in Slovakia, regularly until the end of March.
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