The Slovak Republic Financial Administration released Document No. 13/PO/2024/IM, offering guidance on paying minimum tax or tax licences on 28 October 2024.

The Slovak Republic has reinstated the obligation for companies to pay a minimum tax effective for tax periods beginning on or after 1 January 2024.

Minimum payable tax

Amount of taxable income  Amount of minimum tax
for taxable revenue up to EUR 50,000 EUR 340
for taxable revenue over EUR 50,000 but under EUR 250,000 EUR 960
for taxable revenue over EUR 250,000 but under EUR 500,000 EUR 1,920
for taxable revenue exceeding EUR 500,000 EUR 3,840

The minimum tax must be paid by the deadline for filing the annual tax return. If a taxpayer extends this deadline of the Income Tax Act, the due date for the minimum tax is similarly extended.

A company must pay minimum tax if it has a tax loss or its tax liability is below the specified minimum amount. For tax periods shorter than 12 months, the minimum tax is adjusted based on the number of months in the tax period.

If at least 20% of a company’s employees are registered with disabilities, the minimum tax is reduced by half. Exemptions from the minimum tax apply to new taxpayers, public companies, non-profit organisations, the Slovak National Bank, and bankrupt entities.