The minimum wage increases from €480 to €520 effective 1 January 2019. The defined €520 minimum wage is a gross monthly minimum wage. After deducting 19% for income tax and statutory deductions for health insurance and to Social Insurance, the net monthly salary is approximately €430.
The amended Income Tax Act approved by the MPs in the Slovak Parliament will increase, specifically double, the tax bonus for children up to the age of 6 as of April 2019. The tax bonus represents a tax benefit provided to taxpayers with dependent children living with the taxpayer in the same household in the…