Taxes in Slovakia
Value added tax (VAT)
Basic rate: 20 percent
Reduced rate on books and medicines: 10 percent
Income taxes
The basic income tax rate for individuals is 19 percent. As of January 1, 2013 high earners are subject to a higher rate. Based on the new legislation adopted in 2012, one’s tax base up to 176.8 times the subsistence wage (i.e. €34,401.74 per month) is subject to an income tax rate of 19 percent. The remaining portion of the tax base is taxedat 25 percent. The taxable income of selected constitu- tional officials is subject to a special tax rate of 5 percent.
The corporate income tax rate is 23 percent, based on new legislation adopted in 2012.
Tax on 2012 personal and corporate income will be paid in line with the previous flat tax rate, i.e. 19 percent.
The normal deadline for submitting tax returns is March 31. But because this date falls on a Sunday this year, and the day after is also a holiday, the 2013 deadline is April 2.
