Transaction Tax Bringing €134.6 million So Far, in Line with Changes

Bratislava, 1 August (TASR) – The transaction tax will bring €134.6 million for the first three months since its introduction, namely, from April to June, TASR reported on Friday on the basis of data processed by the Financial Administration and the Finance Ministry based on notifications from taxpayers. The total revenue estimate for this year is thus adjusted for the most recent changes, and the ministry is now expecting to collect €420 million instead of the original €550 million. "The developments during the year have had a significant impact on total revenues. First of all, there were legislative changes coming in three amendments to cater to several entities which were exempted from tax (charity non-profits, schools, health insurance payments, etc). Another reason is the overall economic development, which is worse than originally expected when the budget was drawn up. Compared to original estimates, economic growth has slowed down by half due to global uncertainty related to US tariffs,” the ministry explained. The reduced estimate for transaction tax collection between April and December, now at €420 million, should be fully in line with the latest expectations of the Ministry of Finance, taking into account the circumstances which occurred during the year. In the weeks ahead, the Finance Ministry is looking to analyse the data from taxpayers and subsequently update its tax collection forecasts for this and next year. An accurate estimate of tax collection for 2025 and 2026 will be a subject of discussion by the Tax Forecasting Committee in September, while the tax collection result for this year will be eventually confirmed and known at the end of January of 2026, the ministry added. jrg/mcs/ko