Slovakia ratified the OECD’s Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, sometimes abbreviated as BEPS, intended to combat tax base erosion and profit shifting under individual double taxation treaties. The Multilateral Convention is intended to amend all double taxation treaties concluded by Slovakia and enters into force…
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…