Tax on financial transactions (transaction tax)

The obligation to pay the new tax should be natural persons - entrepreneurs (self-employed or self-employed) and legal persons, such as limited liability companies, joint-stock companies, civil associations.

Taxpayers according to the law should not be cities, municipalities, higher territorial units, budgetary and contribution organizations.

All debit transactions from the taxpayer's account should be taxed, including cash withdrawals. Card payments should not be taxed at the rate of tax according to the amount of the payment, the use of cards should be taxed at EUR 2 per year for each debit or credit card used.

The rate depends on the type of transaction:

Non-cash transactions (for example, transfers from an account) have a rate of 0.4% of the amount of the debit non-cash transaction, but a maximum of EUR 40 from each transaction.

For cash withdrawals, the taxpayer pays 0.8% of the withdrawal amount, while the maximum limit of the tax paid is not determined. The rate also applies to withdrawals at a branch or by card from an ATM.

In the case of payment cards, a tax of EUR 2 per year is paid for each card issued individually and used at least once a year. The tax is applied equally to debit and credit cards.

Examples of tax calculation:

• For a transfer of 1 000 EUR, the tax is 4 EUR, for transfers over 10 000 EUR, the tax is 40 EUR, so for a transfer of 50 000 EUR, the tax is also 40 EUR, since the maximum amount of tax is 40 EUR.
• When withdrawing EUR 1 000 in cash at a branch or from an ATM, the tax is EUR 8, while in the case of withdrawals there is no upper limit on the maximum amount of tax per transaction.
• If the client has 10 cards issued and used, he pays a tax of EUR 20 per year.

No, a rate of EUR 2 per year applies to the use of the card, regardless of the number of transactions made with the card, excluding withdrawals.

A tax of EUR 2 per year is applied to the payment card itself. If the client uses both its physical and digital form, it is still the same payment card, so he only pays once.

In the case of a taxpayer with an account in a Slovak bank, the bank where the client has an account will ensure the settlement of the tax.

If the taxpayer has an account in a foreign bank, the taxpayer (company, civil association, self-employed person) will be responsible for the calculation and payment of the tax.

In the case of a transfer of funds, the tax will be charged to the account of the person sending the payment (so the sender, who is called the payer). In case of cash withdrawal, again from the account from which the cash is withdrawn.

According to the law, the first tax period is April 2025.

The bank will pay the tax on behalf of the taxpayer to the tax office on a monthly basis.

The law determines the interval in which the first tax settlement should take place. This period is between 01. 05. 2025 and 01. 07. 2025. Tatra banka will announce the specific date of the first settlement in advance

The client will find out information about the amount of monthly tax paid in the statement to the business (transaction) account or in the statement to the credit card. The statement will show one total amount paid for the month.

The law provides several exemptions from tax payment, their detailed analysis is currently underway.

At this time, the following debit transaction exceptions are apparent:

• for the purpose of paying taxes, levies and health insurance;
• on the account of apartment owners;
• between corporate accounts of one taxpayer within one bank (if the client has two or more accounts opened in one bank, the tax does not apply to transactions between them);
• on a notary escrow account;
• on the account of the city, municipality and higher territorial unit, budget and contribution organization.

Yes, but if the taxpayer has an account in a foreign bank, he will be responsible for the calculation and payment of the tax himself.

Yes, the entrepreneur will be required to open a business account.

The law imposes an obligation to open an account by 31. 03. 2025.