An overview of the most important income tax changes

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As we informed you in the previous issue of the Newsletter, the National Council of the Slovak Republic (NRSR) approved, in the third reading, the government’s proposal to amend the Income Tax Act on 11 September 2019 and the parliamentary proposal to amend the Income Tax Act on 18 September 2019.

Please note that this amendment not only approves amendments to the act effective as of 1 December 2019 and as of 1 January 2020, but also amendments to the act, the efficacy of which has been postponed until 2021 and 2022; for example, the provisions concerning micro-taxpayers will only be effective as of 1 January 2021. However, some changes to the act shall be applicable when filing the tax return for the tax year 2019. For this reason, attention should be paid to the transitional provisions of the approved act.

The most important approved changes to the corporate taxation as well as in the area of common provisions are listed below:

In the area of personal income tax, these changes shall include:

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