The most important information about Slovakia
Basic information about Slovak economy, taxation, the balance of trade and population.
TAXES AND TRANSFERS
Income tax on natural persons:
Incomes up to 35022.31 EUR = 19%
Incomes over 35022.31 EUR = 25%
Income tax on legal entities:
Incomes over 2500 EUR = quarterly tax advances
Incomes over 16600 EUR = monthly tax advances
Maximum assessment base for 2016 is 4,290 EUR. Minimum assessment base is 405 EUR. Social security contributions are 25.2% in total. Health insurance contributions are 10% in total.
Although dividend tax is currently 0%, the health insurance contributions on dividends of 10% must be paid.
Base rate of VAT is 20% from the tax base. The base rate of VAT applies to all goods and services, except those which are subject to a reduced rate of VAT (10%). ECONOMY
Since 2010, the country's GDP has grown constantly. In 2015, annual growth of GDP index gained the highest value over the past five years.The unemployment rate is declining and is the lowest since 2008. In terms of comparison with other countries, Slovakia has a lot to catch up, but with the expected good economic development it should not be a problem.The highest wages have been amounting in the IT sector and finance for a long term period. The Bratislava region has achieved the highest average wages.THE BALANCE OF TRADE
In the recent years, the Slovak export has been oriented mainly to Germany, the Czech Republic, and Poland. The main items of Slovak export are cars, televisions and petroleum oils. Main import items are industrial supplies, capital goods, transport equipment and consumer goods. DEMOGRAPHY
In average, there are 946 men and 1,000 women, which means 48.6% men and 51.4% women. Life expectancy is currently 76 years. Women live up to 80 years and men up to 72 years in average. AGE STRUCTURE
0 – 14: 830 457 people15 – 64: 3 932 092 people
65+: 672 724 people
