{"id":3227,"date":"2025-03-31T14:45:46","date_gmt":"2025-03-31T12:45:46","guid":{"rendered":"https:\/\/taxadvisory.sk\/?p=3227"},"modified":"2025-03-31T14:45:46","modified_gmt":"2025-03-31T12:45:46","slug":"financial-transaction-tax","status":"publish","type":"post","link":"https:\/\/taxadvisory.sk\/en\/2025\/03\/31\/financial-transaction-tax\/","title":{"rendered":"Financial Transaction Tax"},"content":{"rendered":"

The transaction tax will be introduced from 1 April 2025<\/strong> and will affect all legal entities and natural persons – entrepreneurs.<\/p>\n

The following transactions will be charged:<\/p>\n

\u2212 Bank transactions\/transfers (transaction where funds are debited from the account) – 0.4 % of each transaction, up to a maximum of EUR 40.00;
\n\u2212 Cash withdrawals (at ATMs and at bank branches)- 0.8 %, no limit;
\n\u2212 Amount of overcharged expenses – in the amount of 0.4 %, no limitations;
\n\u2212 Use of a payment card – one-off fixed annual fee of EUR 2.00 in case of use of a payment card.<\/p>\n

Payments made by credit card are not subject to tax, but are subject to a fixed annual fee. The obligation for businesses to allow non-cash payments has been deleted from the final approved bill.<\/p>\n

Multiple transactions, such as the payment of taxes and levies to the Treasury, erroneous payments or intra-bank transfers between accounts within the same bank, are not subject to tax.<\/p>\n

Who will incur what obligations?<\/strong>
\nFor most companies and entrepreneurs, the new transaction tax will be a significant cost item that will be charged to them by their bank, similar to a bank levy. The company itself will not be a taxpayer, i.e. it will have no administrative \/ levy obligations to state institutions. The tax payer will generally be the bank.<\/p>\n

However, companiesthat have accounts in foreign banks<\/strong> or are overcharged for the costs of another person who made payments for them in connection with their activities in the Slovak Republic should be particularly careful. In this case, the company will be obliged to calculate the tax itself and pay it to the tax office. In addition, it must keep detailed records and submit financial transaction tax notices to the tax authority.
\nIndividual entrepreneurs who do not have a separate business account will be required to set up such a transaction account by 31 March 2025 at the latest.
\nThe tax period will be the calendar month and the relevant notification must always be made by the end of the following month. An exception has been made for the first three tax periods from the entry into force of the law, i.e. for the periods April, May and June 2025, which may be settled by a single notification until 31 July 2025. The payment card fee will be payable annually.<\/p>\n<\/div>

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