iCalculator™ SK: Slovakia Tax Calculators

Welcome to iCalculator™ SK, your comprehensive suite of free tax calculators for Slovakia. iCalculator™ has provided free tax calculators for Slovakia since 2019. Since those early days we have extended our resources for Slovakia to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Slovakia Tax Calculator and salary calculators within our Slovakia tax section are based on the latest tax rates published by the Tax Administration in Slovakia. In this dedicated Tax Portal for Slovakia you can access:

Slovakia Tax Calculator 2023/24

The Slovakia Tax Calculator below is for the 2023 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Slovakia. This includes calculations for

1. Employees in Slovakia to calculate their annual salary after tax.
2. Employers to calculate their cost of employment for their employees in Slovakia.

Taxation in Slovakia: An Overview

Slovakia, a member of the European Union, has a well-structured tax system. This overview focuses on the primary types of taxes and the general compliance requirements in Slovakia, providing essential insights for individuals and businesses. It's important to note that while this overview covers the broad categories, specific tax rates and detailed regulations are subject to change and should be verified with the latest legal resources.

Types of Taxes in Slovakia

1. Personal Income Tax

Personal Income Tax in Slovakia is levied on the income of individuals. This includes earnings from employment, business activities, and other sources such as rental income and capital gains. Tax residents in Slovakia are taxed on their worldwide income, while non-residents are taxed only on income sourced within Slovakia.

2. Corporate Income Tax

Corporate Income Tax applies to the profits of companies and other legal entities. It includes both resident and non-resident companies operating in Slovakia. Resident companies are taxed on their worldwide income, whereas non-resident companies are taxed only on income earned within Slovakia.

3. Value Added Tax (VAT)

Value Added Tax (VAT) is a consumption tax applied to most goods and services in Slovakia. VAT is charged at each stage of the supply chain and is ultimately borne by the final consumer. Businesses act as collectors of the tax, remitting it to the tax authorities.

4. Excise Taxes

Excise taxes in Slovakia are specific taxes levied on certain goods, such as tobacco, alcohol, and energy products. These taxes are usually imposed to discourage consumption of these goods and are a significant source of revenue.

5. Real Estate Tax

Real Estate Tax is levied on property ownership in Slovakia. The tax rate and base can vary depending on the location and type of property. Both individuals and entities are subject to Real Estate Tax.

6. Social Security Contributions

While not a tax in the traditional sense, Social Security Contributions are mandatory payments made by employers and employees to fund social security and health insurance schemes in Slovakia. These contributions provide entitlement to various social benefits.

Tax Compliance in Slovakia

Compliance with the Slovak tax system involves several key aspects:

• Registration: Businesses and individuals engaged in economic activities are required to register with the Slovak tax authorities.
• Filing Returns: Taxpayers are required to file tax returns annually or as stipulated by specific tax laws. Electronic filing systems are widely used.
• Payments: Tax payments are generally made in advance based on estimated tax liabilities. Final settlements are made after filing the tax returns.
• Documentation: Keeping accurate records and documentation is crucial for tax compliance. This includes invoices, contracts, and financial statements.
• Audits: The Slovak tax authorities conduct audits to ensure compliance. Businesses and individuals must be prepared to provide necessary documentation and information during audits.

Understanding and complying with the tax system in Slovakia is vital for businesses and individuals to ensure legal conformity and avoid penalties.