Transaction tax does not apply to card payments

Publikované 4. apríla 2025

From April 1, 2025, a new law on the so-called transaction tax came into force. You may have already heard something about it – and maybe you just imagined how the state will tax absolutely every payment you make.

It is important to emphasize that this tax does not apply to payments received via payment cards. This means that if your company accepts card payments via any payment terminal, mobile payment terminal, e-shop or QR code, these transactions will not be subject to the new tax and entrepreneurs do not have to worry about continuing to accept cashless payments by card or mobile.

What transactions does the transaction tax apply to?

The transaction tax applies to companies and individuals – entrepreneurs in the following cases:

✔ All outgoing payments from a business account – for example, when paying an invoice. The tax rate is set at 0.4% of the payment, but a maximum of €40 per transaction.

✔ Cash withdrawals from the account – 0.8% without a maximum limit for one withdrawal.

✔ Issued payment card – annual fee for each active card is €2.

Which transactions are exempt from tax?

The following transactions are exempt from transaction tax:

✔ Acceptance of card payments: As already mentioned, accepting card payments via a terminal, online payments or QR codes are not subject to this tax.

✔ Cash deposits to the account: Deposits made at a bank branch or through ATMs are not taxed.

✔ Payments to health and social insurance: These transactions are exempt from tax.

✔ Income from abroad to the account: If funds have been sent to you from abroad, these are not subject to tax.

✔ Intra-bank transfers between own accounts: Transfers between accounts of the same owner within one bank are exempt.

✔ Payments of taxes, duties and state fees: These payments are not subject to transaction tax.

Who is obliged to pay transaction tax?

Transaction tax applies to every entrepreneur and sole proprietor with a registered office of their company or operation in Slovakia and who conducts business activities here.

Non-profit organizations, civic associations, foundations, local governments or state authorities are excluded from this obligation. If you are a natural person and you rent real estate without a trade, or you carry out activities under the Copyright Act, transaction tax does not apply to you either.

Which payments are not subject to transaction tax?

All payments that end up in the state budget and card payments are not subject to transaction tax. This includes, for example:

-payments of taxes and duties, contributions, payments to the II. and III. pension pillars

-payments by payment card

-transfers between accounts within one bank

How to optimize payments and avoid unnecessary fees

Unfortunately, as an entrepreneur, you cannot avoid paying transaction tax, but we have a few tips for you on how to optimize them

✔ Pay with a payment card whenever you have the opportunity – these payments are not subject to transaction tax.

If you can choose between paying an invoice by transfer and paying directly via a payment terminal, choose the terminal – it is easier and more convenient.

✔ Business and personal accounts in the same bank – tax-free transfers between these accounts will save you a few extra euros. The same applies to accounts of legal entities.

✔ Optimize outgoing payments into 1 transaction. If you pay multiple invoices for one company, it is worth paying these payments in one consolidated payment. If the amount exceeds €10,000, the €40 limit will apply.

✔ Postal orders are also exempt from tax, but you have to take into account the fees of the post office, which applies them in such transactions.

What does this mean in practice?

You should pay sufficient attention to the new transaction tax. It has become an unexpected expense for every entrepreneur.

For entrepreneurs accepting card payments, nothing changes in practice, as these transactions are not subject to the new tax. Cashless payments remain an efficient and modern way of accepting payments without additional fees.

Source: Finančná správa