- The transaction tax will be paid exclusively by legal entities.
- The change of legislation will come into effect from the beginning of next year.
- The amendment contains technical adjustments and new definitions.
Only legal entities should pay a transaction tax. Thus, it will be exempt from natural persons entrepreneurs who are currently paying this tax. The change should eventually apply from the beginning of next year. This stems from the amendment of the coalition deputy of the National Council (NR) of the Slovak Republic Adam Lučanský (CIS) on the amendment to the Act on Tax Transactions, which he presented on Monday as part of the debate in the second reading.
The amendment was submitted by a group of deputies of the CIS coalition before the flight. Originally, they proposed that tradesmen or small companies with a turnover of up to EUR 100,000 did not pay transaction tax. The changes were to apply from October this year. The Ministry of Finance (MF) of the Slovak Republic disagreed with the proposal in the past. The petitioners with the Ministry of Finance have discussed several times and announced that they would submit amendments to the amendment by mutual agreement.
The amendment also contains several technical amendments to the Tax Act on Financial Transactions. For example, it complements the definitions of multiple terms such as the reimbursed cargo and a permanent establishment, as several uncertainties arose in practice. It also regulates the definition of the taxpayer and introduces a division into taxpayers with limited and unlimited tax liability. It also specifies the list of entities linked to the budget of public administration, which are excluded from the range of taxpayers or the use of a credit card for the purposes of this Act.
