Slovak Financial Transactions Tax

According to the current wording of the Slovak Act No. 279/2024 Coll., on the tax on financial transactions and on amendments and supplements to certain acts, the transaction tax will not apply to payment transactions in relation to Comgate's clients. Therefore, the price for transactions will not increase for Slovak clients.

This conclusion is based on the valid wording of the Act, specifically § 4, para. 2), letter n), which excludes from the tax "a financial transaction which is a payment operation performed between several providers, their agents, their branches or intermediaries directed to the execution of a payment operation of a payment service user for the purpose of crediting funds in favour of a payment recipient". The explanatory memorandum to the Act then directly states in the commentary to the above exception that it applies to 'the transfer of the amount of a payment transaction to the account of a payment service provider from the account of a payment gateway provider'. For transactions not covered by any of the exemptions, the first tax period is April 2025.

We will continue to monitor the legislation on the transaction tax and will keep the information updated in case of changes.