Slovakia is located in the heart of Central Europe with Bratislava as the capital. It features a fantastic natural landscapes, caves, mountains, folk architecture, medieval castles and towns, spas and ski resorts. Ethnically, the main population is Slovak, whilst Hungarians are the largest minority.
Tourism is the largest industry, followed by farming, car manufacturing, and electrical engineering as the main sources of income. Slovakia has a high-income and advanced economy with one of the fastest economic growth rates in the European Union, and especially so for new members from the eastern block.
CXC Global’s local expertise and knowledge of Slovakia labour and tax laws, allows us to work closely with our clients, assist with Local Tax and Social Security Registration, VAT Registration, including a preparation of a personal income tax return at the end of the tax year.
Contracting in Slovakia has some complexity. The taxation system in Slovakia is multi layered and is not contractor friendly. Slovakia is recognized for being a country with some of the best living standards in Eastern Europe. They has entered into Double Taxation Treaties with some countries and do not encourage contracting. For foreign national contract workers, contracting in Slovakia, it would be wise to consult with CXC Global on the best way to structure, and how best to balance taxation.