The Slovak Republic’s parliament has passed a second amendment to the Financial Transaction Tax Act, set to take effect on 1 April 2025.
The amendment expands taxpayer exemptions to include schools, extends exemptions for attorneys and public universities, allows taxpayers to deduct transaction tax from recharged costs, and removes the requirement to notify tax collectors about special accounts for certain financial transactions such as tax payments.
Earlier, the Slovak Republic’s tax authority released a guide on the new Financial Transaction Tax (FTT) on 27 December 2024, which clarified the definition of “taxpayer,” outlined exempt transactions, detailed tax calculation methods, and specified reporting obligations.
The parliament reviewed a draft bill to abolish the financial transaction tax on 6 November 2024. This comes after the Slovak parliament passed an amendment to the Financial Transactions Tax Act, set to take effect on 1 January 2025.
