Slovakia Tax Overview
Slovakia has a very favourable tax system for investors
looking to invest in the property market. All income, whether it be an
individuals earnings or corporate profit is taxed at a flat rate of
19%. DPH Is Slovakia’s version of VAT, this is also charged at a rate
of 19%. Unlike the UK this simplified tax system is easy to understand
and makes the completion of any tax returns very simple.
The tax year in Slovakia runs from April to April.
There is an annual tax paid on property and land in
Slovakia, it is similar to council tax in the UK. This tax must be paid
annually, not monthly though it is inexpensive and varies depending on
the type and the size of the property.
Tax is payable on the sale of your property at a rate of
19%, though you can escape this tax if you have owned your property for
more than 5 years. You will also be exempt from this tax if you have
residency in Slovakia and have had the property registered as your
permanent address for more than 2 years.
Any renovation/building work you have carried out on your
property can also be offset against any tax that may be due.
We can assist you with any tax dilemma’s you may have
regarding issues to do with your property. If you are unsure and need
assistance then please email us or give us a call.