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Slovak Republic
Overview
Last reviewed - 28 November 2023The Slovak Republic (Slovakia) is a landlocked country in Central Europe. It is bordered by the Czech Republic and Austria to the west, Poland to the north, Ukraine to the east, and Hungary to the south. Its capital is Bratislava. The official language of the Slovak Republic is Slovak, and the currency is the euro (EUR).
Slovakia joined both the North Atlantic Treaty Organization (NATO) and the European Union (EU) in the spring of 2004 and the Euro area on 1 January 2009. Slovakia has made significant economic reforms since its separation from the Czech Republic in 1993. Reforms to the taxation, healthcare, pension, and social welfare systems have helped Slovakia to consolidate its budget.
The 1Q 2023 gross domestic product (GDP) grew year-on-year by 1%. As of June 2023, the unemployment rate reported by the Statistical Office of the Slovak Republic is 5.12%.
PwC Slovakia has a great deal of experience helping firms identify and assess tax risks or opportunities. We can help formulate effective strategies to optimise taxes, implement innovative tax planning ideas, and maintain compliance.
Reducing cost and managing risk is fundamental to shareholder value. We assist in the process by advising on all corporate and local business tax issues. This includes advice on structuring investments in the Slovak Republic and on claiming inward investment incentives. We perform tax due diligence, transfer-pricing reviews, and internal tax reviews. We can also advise on restructuring companies, including pre-exit and post-acquisition transformations.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
21 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
Within three months following the fiscal year-end. Extension of up to additional six months possible if conditions met. |
| CIT final payment due date |
Within three months following the fiscal year-end. Extension of up to additional six months possible if conditions met. |
| CIT estimated payment due dates |
Advance payments of CIT must be paid monthly or quarterly during the current tax period. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
25 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
31 March |
| PIT final payment due date |
31 March |
| PIT estimated payment due dates |
Income tax is withheld monthly at source from employment income for employees. |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
20 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: 0 or 7 / 0 or 19* / 0; Non-resident: 7, 19, or 35 / 19 or 35* / 19 or 35* *See the Withholding taxes section of the Corporate summary for more information. |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate. |
| Headline individual capital gains tax rate (%) |
19 |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NA |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
NA |
| Headline gift tax rate (%) |
NA |
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