The amount of the subsistence minimum will not be changed this year in Slovakia | Tax & Fiscal Alert
We would like to inform you about the fact that the amount of the subsistence minimum in Slovakia will not be changed as of July 1st 2014. The subsistence minimum remains unchanged for the first time in the modern history of the Slovak Republic.
The Slovak economy has experienced deflation so Ministry of Labour, Social Affaires and Family decided to let the subsistence minimum unchanged and Amendment to the Act on subsistence minimum was introduced.
In praxis it means that starting from July 1st 2014, the social welfare benefits as well as tax bonus will be unchanged too. The tax bonus remains at the amount of 21,41 EUR. Also tax-free allowance whose amount depends on the subsistence minimum remains the same as in 2014, i.e. at the amount of 3 803,33 EUR.