Spectator on facebook

Spectator on facebook

VAT and income taxes in Slovakia

Value added tax (VAT)Basic rate: 20 percentReduced rate on books and medicines: 10 percent

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 legislation adopted in 2012, one’s tax base up to 176.8 times the subsistence wage is subject to an income tax rate of 19 percent. The remaining portion of the tax base is taxed at 25 percent. The taxable income of selected constitutional officials is subject to a special tax rate of 5 percent.

The corporate income tax rate for 2014 and future years is 22 percent, one percentage point less than in 2013, based on new legislation adopted last year.

Top stories

Roma segregation - Slovakia’s evergreen problem

Amnesty International slams Slovakia for discriminating against minorities and for hate speech in its annual report.

JLR plant, cheap mortgages alter market

In the sector of industrial real estate attention is focused on Nitra and its vicinity, where Jaguar Land Rover (JLR) is building a new plant.

Slovak drama of the early 20th century goes English

Visual art, dance and music are universal means of expression; drama, on the other hand, is determined and limited by the language it is performed in. To offer the world at least a taste of Slovak drama, the Theatre…

L-R: Diana Mórová (Eva), Kamila Magálová (Matka), Ján Koleník (Bača Ondrej) in Ivan Stodola's play Shpeherd's Wife in the Slovak National Theatre

North-south gas interconnection moves closer

Slovak gas projects will receive finances from the European Union.

The gas pipeline operator Eustream is the biggest taxpayer in Slovakia.