The Slovak Republic Parliament has passed an amendment to the Financial Transactions Tax Act, which will take effect on 1 January 2025.
The amendment introduces key changes to tax regulations, including clarifying and expanding exemptions, limiting the maximum tax to EUR 40 per clearly identifiable transaction, and requiring taxpayers to notify authorities if they are not subject to tax.
The amendment also includes the requirement to inform the tax authority about special accounts used for financial transactions that are tax-exempt.
This follows after the parliament reviewed a draft bill to abolish the financial transaction tax (FTT), on 6 November 2024 citing negative impact on businesses.
The Slovak government introduced a financial transaction tax (FTT) on 18 October 2024 as an amendment to improve public finances. In addition, a proposal to abolish the FTT has also been set for 1 March 2025.