Tax and Accounting News 5/2025

Čo v článku nájdete:

• Financial transaction tax
• The Income Tax Act – amendments
• The Accounting Act is a transparency statement
• The Act on the use of ERP of selected changes
• Other selected changes

Financial transaction tax

As we informed you last month, based on information published by the Slovak Financial Report on its web portal, it is not possible to apply the extended deadline for the submission of a financial transaction tax notification and payment of the tax (for the first three months) to the tax office by the end of July 2025 in the case of taxpayers who are also taxable on the basis of the costs charged for carrying out a financial transaction relating to their domestic activity.  

V frequently asked questions on the website of the Financial Report of the Slovak Republic information was published at the end of May on the fact that, if such a taxpayer has a run-in for which he is the payer, e.g. pursuant to Paragraph 3 (3) (3) (use of a foreign bank account) and point 4 (costs charged) of the Financial Transaction Tax Act, the deadline for the submission of the notification and payment of the tax, which will expire on 31 July 2025, will apply. Within this period, the tax payer shall submit one joint notification of the financial transaction tax for April 2025 (ordinary), followed by one notification for May 2025 and one for June 2025, in which he shall identify the two check boxes on the status of the taxable person in the introductory part of the notification. In case of costs cleared the Ministry of Finance of the Slovak Republic is continuously expressed in the spirit that it is necessary to monitor the initial financial transactions to which the costs charged relate. If the initial costs charged are not subject to tax (e.g. the employee paid travel expenses during a cash or payment card business trip), neither will the taxpayer (in this case also the payer) be liable to tax the costs charged. The current draft amendment to the Financial Transaction Tax Act is pending in the NRSR. the abolition of the application of a financial transaction tax for natural persons, businesses and legal entities (including branches of foreign legal entities) whose taxable income (revenues) did not exceed EUR 100 000 in the immediately preceding tax period.

We will keep you informed about further developments in the application of the financial transaction tax.

The Income Tax Act – amendments

The financial directorate of the Slovak Republic issued information on the amendment of Act No. 595/2003 Coll. on Income Tax as amended (hereinafter “the Income Tax Act’) following the Act No. 83/2025 Coll. on General Product Safety. With effect from 1.5. 2025, the amendment in question amends the wording of footnote 105a, which is used in Paragraph 21 (2) (a). (m) (provision on the tax recognition of the purchase price of stocks of discarded goods) in the first point of the Income Tax Act, thus the goods are classified as dangerous by any product which is not a safe product in accordance with Article 3 (3) of Regulation (EU) No 2023/98 of the European Parliament and of the Council8.

In addition, NR SR approved in May 2025 the following amendments to the Income Tax Act:

• the introduction of the so-called sport super-deduction institute of 29.05.2025:

It shall be implemented with effect from 1 January 2026. Income tax exemption Under Section 5 of the Income Tax Act running by coachwho are coaches registered in the register of natural persons in sport, up to a maximum of EUR 300 per month from all employers. If the sum of these revenues exceeds EUR 300 in the calendar month concerned, only revenue above the amount so established shall be included in the tax base. The super-calculation institute is introduced in Section 30ca of the Income Tax Act, which allows the application of 50% of the expenditure (s) incurred in support of sport. Only the provision of non-monetary consideration to sports organisations’ taxpayers through the provision of sports equipment or sports equipment is a support for sport, which will be eligible for deduction. At the same time, expenditure (costs) in support of sport will be recognised in tax expenditure only after payment under the same conditions as for sponsorship under Paragraph 17 (19) (a). (h) the income tax law, i.e. the taxpayer may not recognise a tax loss or a positive tax base must be reported. For reasons of transparency, pursuant to § 30ca (8) of the Income Tax Act, the Financial Directorate of the Slovak Republic will publish the list of taxpayers who have applied the deduction under § 30ca of the Income Tax Act as well as information on the sport organisation which was granted in connection with the promotion of sport.

• following the new Act on certain measures to increase the resilience of the Slovak Republic in the field of defence and security, on defence obligations and on the amendment of certain laws of 27.05.2025:

With effect from 1.7. 2025 will incentive contribution provided in connection with the inclusion of a citizen in operational advances, standby advances and defence advances, and the financial contribution granted in connection with the performance of the tasks of the Gendarmerie Corps, Income tax exemption in accordance with Paragraph 9 (2) (ag) of the Income Tax Act.

The Accounting Act is a transparency statement

Law No 109/2025, amending Act No 213/1997 Coll. on non-profit organisations providing services of general interest, in Article VII, with effect from 1 June 2025, amends Act No 431/2002 Coll. on Accounting as amended (hereinafter referred to as “the Accounting Act’); Amendments to the Accounting Act are related to a new transparency statement for entities (entities) that are not established or set up for business purposes; and they are under an obligation to draw up this statement and to deposit it in the register. That obligation is laid down for:

• international organisations pursuant to Law No 116/1985 Coll. on the operating conditions of international organisations in the Czechoslovak Socialist Republic, as amended,
• associations under Law No 83/1990 Zbon the association of citizens, as amended,
• Non-investment funds under Law 147/1997 Z. z. on non-investment funds and supplementing the Act of the National Council of the Slovak Republic No. 207/1996 Coll. as amended,
• non-profit organisations providing services of general interest pursuant to Act No 213/1997 Coll. non-profit organisations providing services of general interest, as amended,
• Foundation pursuant to Act No 34/2002 Coll. on foundations and the amendment of the Civil Code as amended.

The transparency statement for the calendar year of all the above entities shall be drawn up by 30 June of the following calendar year under specific rules and shall be entered in the Register of Financial Statements by 15 July of the calendar year in which the statement is required to be drawn up. The transparency statement shall be drawn up for the first time under specific rules for the period from 1.6. 2025 to 31.12. 2025.

Another change concerns Paragraph 23b (1) of the Accounting Act, which shows that the Financial Directorate of the Slovak Republic will verify whether the transparency statement received contains correctly completed general requirements under Paragraph 17 (2) (a). (a) and (b) of the Accounting Act, i.e. verify that the transparency statement contains the properly completed business name or entity name, the registered office of the legal entity and the identification number if the entity has allocated it.

TIP: If you need help with accounting, feel free to contact our team. All information can be found on subpage Services Accounting.

The Act on the use of ERP of selected changes

The financial directorate of the Slovak Republic published two information related to the amendment of the ERP Act:

• Information on the amendment to Law 102/2024 Z. z., which, among other laws, also complements the Act No. 289/2008 Coll. on the Use of the Electronic Repository (hereinafter referred to as “the ERP’):

Due to the legislative arrangements whereby a domestic taxable person becomes the taxable person of value added tax (hereinafter referred to as “VAT’) and the way in which the value added tax identification number (hereinafter referred to as “VAT number’) is allocated to the taxable person, the various provisions of the ERP Act are governed. In this context, the requirements for the mandatory particulars of the treasury document produced by the e-casa client are harmonised, the reporting obligation of the businessman and the penalties in case of non-compliance are regulated. The specific important changes selected are listed below:

• Amendment to Paragraph 7a 4 letter a) and b) the ERP Act on the ground that the identification number is allocated not only to VAT payers but also to persons registered for VAT under Section 7, 7a of the VAT Act. Persons registered for VAT under Section 7, 7a of the VAT Act do not have the status of VAT payer. The legislation in Section 7a of the ERP is intended to allow VAT identification number to be used only for VAT payers;
• Following changes in the rules for the registration of domestic taxable persons as taxable persons under the VAT Act, an obligation to notify the Financial Directorate of the Slovak Republic is introduced in case the entrepreneur is obliged to register as a VAT payer in accordance with Article. I of Law No 102/2024 Z. z. z. This obligation must be fulfilled by the entrepreneur before he/she prepares the receipt as a VAT payer.
• Clarification of the existing provision of Paragraph 17 (1) of the ERP Act concerning verification of data from treasury documents produced by e-casa client through the application in thegestion of the Financial Directorate of the Slovak Republic. The general public, as a user of the application, has the right to verify and compare the data of the issued receipt with the data sent to the e-casa system and verify their accuracy. For this purpose, data from the e-cassette system belonging to the document will be made available in the application. User registration in the application also allows the user to verify the accuracy of the receipt without the need to keep the original receipt. In the absence of verification of correctness, the user is entitled to report the disputed treasury document directly to the financial administration through the application.

• Information on the amendment to Law No 354/2024 Z. z., which, among other laws, also supplements the ERP Act:

The application practice for inspections of compliance with the ERP Act shows that the set penalty margin is not sufficiently dissuasive from the conduct of administrative offences by entrepreneurs and therefore the amendment increases the fine for non-compliance with the ERP Act.

Other selected changes

• from 1 July 2025, the self-taxation mechanism shall apply; VAT on imports of goods from third countries and also in this context the VAT return form is amended with effect from 1 July 2025. However, this new import regime will only apply (yet) to domestic taxable persons who will hold a valid permit. The application of self-taxation will be applied automatically by lodging VAT returns for the tax period in which the customs declaration will be lodged with the proposal to place the goods under the relevant customs procedure (e.g. release for free circulation). If the normal conditions are met, the importer shall also apply a deduction of VAT.

The National Council of the Slovak Republic was presented for discussion a number of draft amending lawse.g.:

• Act No 566/2001 Coll. on Securities and Investment Services and on amendments to certain laws (the Securities Act) = The aim of the draft law is the transposition of Directive (EU) 2023/2864 and the implementation of some provisions of EU Regulations 2023/2859 and 2023/2869 to achieve the proper and efficient functioning of the Single European Access Point (‘ESAP’) which will provide centralised access to publicly available information on financial services, capital markets and sustainability. The ESAP should provide the public with simple, centralised access to information on entities and their products that are disclosed and relate to financial services, capital markets, sustainability and diversity.
• Law 359/2015 Coll. on the automatic exchange of financial account information for tax administration purposes following the transposition of Directive (EU) 2023/2226 = an obligation is introduced for service providers to report to the Financial Administration information on cryptoactivity serving payment and investment purposes that the Financial Administration, as a competent authority, will exchange with the competent authorities of EU Member States and Contracting States under an international agreement on administrative assistance in tax matters. Article II amends Law 78/1992 Council Regulation (EC) No 659/1999 of 22 March 1999 laying down detailed rules for the application of Article 108 of the Treaty on the Functioning of the European Union (OJ L 83, 27.3.1999, p. Premier ministre/Eerste Minister, and OECD recommendations from the peer review of the Slovak Republic for information exchange on request in accordance with the international standard.
• Indirect amendment to Law 222/2004 Z. Coll. on value added tax it is proposed to modify the provision of the taxable person’s obligation to make a correction of the tax base and the tax where, when the goods are imported, they are not taxed by the customs authority and the tax base changes when the goods are imported due to a reduction or increase in the associated costs referred to in Article 24 (2) or (2). 4 the VAT Act, which does not result in a reduction or increase of the customs value of goods.

It is also proposed to extend the list of goods subject to a reduced tax rate of 5% from the tax base, specific goods such as gluten-free groats and meal from other cereals, gluten-free flour mixtures, as well as a list of services to which a reduced tax rate of 5% of the tax base will apply to services consisting in granting the right to enter theater performances, performances of puppet theatres, opera, ballet, musicals or other similar cultural events, unless these services are exempt under Section 34 of the VAT Act. On the development of the approval process of the aforementioned draft laws We will keep you informed. If you are not aware of your tax or accounting questions, do not hesitate to contact us contact.

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