Starting July 1, the subsistence minimum in Slovakia has officially changed. At first glance, the increase is only about 4%, but in practice, this figure triggers a chain reaction that will affect almost everyone: from employed staff and parents to residence permit holders running a business.
An increase in the subsistence minimum automatically changes dozens of other economic indicators in the country.
What has changed already?
Parental Allowance: Parents will see new amounts in their monthly payments (rodičovský príspevok).
Net Salary and Taxes: The change in the subsistence minimum directly affects the tax-free allowance. This impacts both the net amount employees take home and the businesses' capabilities for tax optimization.
Residence Permit Renewal (Important!): For everyone residing in Slovakia under a Business Residence Permit, the financial capacity requirements for bank accounts have changed. Submitting the old amounts is no longer allowed and may result in a rejection.
Net Salary and Taxes: The change in the subsistence minimum directly affects the tax-free allowance. This impacts both the net amount employees take home and the businesses' capabilities for tax optimization.
Residence Permit Renewal (Important!): For everyone residing in Slovakia under a Business Residence Permit, the financial capacity requirements for bank accounts have changed. Submitting the old amounts is no longer allowed and may result in a rejection.
Detailed Breakdown in 3 Minutes
To make sure you don't get lost in the new calculations and know exactly how much money you need to show to the police and how your taxes will change, we have recorded a short video breaking it all down for you!
Watch our video to stay updated on all the changes:
Need help with documents? If you are facing a residence permit renewal, tax calculation, or preparation of financial reports under the new rules, the ALKUR team is always ready to help. Contact us for a personal consultation!
Our contacts for communication and booking a consultation: https://alkur.sk/contacts-en