Before you form a company in Slovakia you shall get some info about taxes in Slovakia. Tax system in Slovakia is similar to those of other EU member states. The Slovak tax system includes the following types of taxes:
– corporate income tax from 2020 ( 15 %),
– 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). Tax rate is given by the Municipality office.
Taxes in Slovakia -VAT
VAT is fully harmonized and complies with EU VAT. Business entuty must register for VAT when its turnover ina a 12 month 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:
Tax registration
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.
Your tax declaration shall be submitted by March 31 for your income in the previous calendar year. This period can be prolonged if you communicate this request to the Tax Authority by March 31. This period can not be prolonged if the entity is in the process of liquidation.
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