Slovakia's financial transaction tax starts for companies

The tax was introduced as part of Slovakia's budget consolidation.

What applies

• Taxpayers: legal entities, including foreign companies and branches, that use payment services and have a registered seat or place of business in Slovakia or do business there.
• Rate: 0.4% of the debited amount, up to €40 per transaction. Cash withdrawals were taxed at a higher rate.
• Collection: banks generally withhold and pay the tax.
• Timing: the Act took effect on 1 January 2025 and the first tax period began on 1 April 2025.
• Some intra-group cash-pooling transactions are caught, which raises costs for group treasury arrangements.

Later developments

In September 2025 Parliament exempted the self-employed from 2026, so only companies and other legal entities now pay. Political pressure to abolish the tax continued in 2026.

Who is affected

Slovak companies and branches, and groups that run cash pools or pay suppliers from Slovak accounts.

Sources

• KPMG: Slovakia, FAQs on financial transaction tax (March 2025)
• CMS: Slovakia's new financial transactions tax to impact cash pooling
• The Slovak Spectator: Slovakia exempts sole traders from transaction tax, but companies still on the hook (30 September 2025)