The Slovak Republic is located in Cetral Europe. Slovakia borders Austria, Czech Republic, Hungary, Poland and Ukraine. Slovakia has a territory of 49,035 square kilometers. The capital city of Slovakia is Bratislava, the largest city and the location of key government institutions. Slovakia has a population of 5,5 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - Standard tax rate 21%. Tax rate 15% applies to micro-entities with a taxable income not exceeding EUR 49,790. Tax returns are filed on an annual basis. Advance income tax payments are made on a monthly or a quarterly basis
- Dividend withholding tax - Standard tax rate 0%
- Interest withholding tax - Standard tax rate 19%
- Royalties withholding tax - Standard tax rate 19%
- Capital gains tax - Standard tax rate 21%
- VAT - Standard tax rate 20% or reduced rates 0% and 10% or tax exempt. Tax returns are filed on a monthly or a quarterly basis
- Personal income tax - from 19% up to 25%.
The following are the most common types of companies to incorporate a company in Slovakia as:
- Limited liability company (Spoločnosť s ručením obmedzeným - s.r.o.)
- Public limited company (Akciová spoločnosť - a.s.)
- General partnership (Verejná obchodná spoločnosť - v.o.s.)
- Limited partnership (Komanditná spoločnosť - k.s.)
- European company (Societas Europaea)
- Branch office (Pobočka).
Official currency of Slovakia is euro (EUR).
Slovakia has a developed high-income economy. GDP of the country is based primarily on the services sector, but the industrial sector plays an important role in the economy. The main industry sectors are car manufacturing and electrical engineering
The GDP of Slovakia grew by 3% in 2021 and amounted to USD 115 billion. Tertiary sector makes up almost 60% of the GDP of the country, followed by industry sector at 27.5%, agriculture at 2%.
In terms of foreign trade the largest exports of the country are vehicles, metal and metal products, electricity, gas, coke, oil, nuclear fuel, chemicals, synthetic fibers, wood and paper products, machinery, earthenware and ceramics, textiles, electrical and optical equipment, monitors and projectors, rubber products, food and beverages, pharmaceuticals.
Imports of Slovakia consist of energy, petroleum oils, natural gas, cars and vehicles, electric conductors, consumer goods.
Primary trading partners of Slovakia are Austria, Germany, United Kingdom, Hungary, Poland, Czech Republic, Romania, China, Poland, Turkey, USA, China, France, South Korea and Vietnam.