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Opening a business and accounts The system of taxation of Ukrainians in Slovakia

Mykola Sirenko

Lawyer

E-mail

sirenko@prikhodko.com.ua

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Expert in corporate and international corporate law. Has extensive experience in supporting the acquisition of financial licenses in Ukraine, as well as business incorporation in the EU, the United Kingdom, Switzerland, the UAE, and key Asian jurisdictions.

The system of taxation of Ukrainians in Slovakia

Per Slovak legislation and the Convention on the Avoidance of Double Taxation between Ukraine and Slovakia, all persons who stay more than 183 days on the territory of Slovakia become their tax residents. Therefore, such persons must both submit a declaration and pay taxes.

Double taxation

In order not to pay taxes twice, it is necessary to obtain relevant certificates from the competent authorities, in this case from the Ministry of Finance.

If you pay income tax in Ukraine, you will have to pay the difference in Slovakia (if you are a tax resident in Slovakia).

Tax rates

Income tax is paid only by residents of Slovakia. Taxation applies to all types of income from employment and special payments. Tax can range from 19% to 25%.

19% – if the taxable income of an individual exceeds the amount of EUR 60,000 (from the part of the tax base that does not exceed the amount of EUR 47,537.98)

25% – if the taxable income (income) of an individual exceeds the amount of EUR 60,000 (from that part of the tax base that exceeds the amount of EUR 47,537.98)

If a resident of Slovakia receives dividends from abroad, the tax rate is 7%.

Tax relief. Each self-employed person can deduct up to 20,000 euros as a fixed payment for expenses without additional proof.

Also, if the taxable income of an individual entrepreneur in 2024 does not exceed EUR 60,000, a reduced tax rate of 15% is applied. If we are talking about an employee, there is no preferential tax rate.

Importantly! In Slovakia, there is no form of control over entrepreneurs. It is just a form of tax payment. If an individual entrepreneur does not receive income for a month, six months or a year, he will not be contacted by tax or police authorities.

If you already have a residence permit, the registration process will take 3-5 working days.

Medical and social insurance

The sole trader must independently make monthly deductions for health insurance from the first day of business activity.

With a turnover of more than 7,644 euros, the obligation to pay social contributions also appears in the IP. The size is 48.6%.

Submission of reporting

All persons who receive income and pay tax must submit a declaration for the financial year. The reporting period in Slovakia runs from January 1 to March 31.

If a person does not have time to submit the report within the specified time, you can contact the tax office with a request for a postponement. Postponement is possible until June 30.

Newly introduced in the field of violation of tax obligations

From 2024, the tax service will not charge a fine for the first violation of the legislation.

The offender will first be sent a letter with a notice of violation of the law and a warning that in case of a new violation, a fine will be applied.

To avoid problems with taxation, to understand and establish your tax residency, and to calculate the amount of taxes to be paid, we recommend that you consult the specialists of the Prikhodko and Partners law firm.

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1 question

Do you need tax advice in Slovakia?

Yes

2 question

Do you receive income in Slovakia?

Yes

3 question

Are you currently in Slovakia?

Yes

How long does company registration take?

Registration as a sole proprietor (živnosť) usually takes up to 4 business days. Registration of a full limited liability company (s.r.o.) takes 7–10 days from the date all required powers of attorney are signed.

Can I open a company remotely without travelling to Slovakia?

Yes, the registration of a company or sole proprietorship can be completed entirely remotely on the basis of a notarised power of attorney. However, your personal visit will be required to submit biometric data for a residence permit to the immigration police, as well as for final identification at certain Slovak banks.

What taxes will I pay as a small business?

In 2026, legal entities with annual income of up to EUR 100,000 are subject to a reduced corporate income tax rate of 10%. If you operate as a sole proprietor, the system allows the deduction of so-called “flat-rate expenses” (a fixed percentage of expenses without supporting documents), which makes the tax burden minimal.

When is a company required to register for VAT?

Mandatory VAT registration arises if your company’s turnover in Slovakia over the last 12 months exceeds the threshold of EUR 50,000. It is also possible to register for VAT voluntarily at the launch stage if this is necessary for working with your European counterparties.

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