The Slovak Republic has gazetted the bill that amends various tax laws, including corporate tax and VAT rate changes, and the bill enacting the financial transaction tax.
The bills are aimed at improving the country’s public finances.
The bills were officially published in the Collection of Laws as No. 278/2024 Coll. and No. 279/2024 Z. z. on 25 October 2024.
Earlier, on 18 October 2024, the Slovak Republic enacted the bills, which proposed raising the corporate tax rate to 24% for incomes over EUR 5 million, reducing small taxpayer rates to 10%, increasing the standard VAT to 23%, and lowering the withholding tax on dividends for individuals to 7%. The bill also introduced various rates for financial transaction taxes.
The revised tax measures and the newly implemented financial transactions tax will go into force on 1 January 2025.
