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Slovak Republic: Worked Example of Tax on Rent

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Last Updated: Sep 29, 2006

Tax Example: Rent

NON-RESIDENT COUPLE FILING SEPARATELY (TAKING STANDARD DEDUCTIONS)
Non-resident couple's joint monthly rental income1 €1,500 €6,000 €12,000
Annual Rental Income 18,000 72,000 144,000
Less Standard Costs (25%)2 (4,500) (18,000) (36,000)
Less Personal Allowance3 (4,710) (4,710) (4,710)
= Taxable Income 8,790 49,290 103,290
Non-resident income tax rates
Flat tax rate 19% 1,670 9,365 19,625
Annual Income Tax Due €1,670 €9,365 €19,625
Tax Due as % of Gross Income 9.30% 13.00% 13.60%
Thanks to:

DISCLAIMER: The information contained above is marketing material only and is not written tax advice directed at the particular facts and circumstances of any person and should not be relied upon. We encourage you to discuss your particular situation with us or an independent tax advisor. This information was last updated on September 29, 2006.


Notes

1 The residential property is jointly owned by husband and wife, but then taxed separately (50% upon each partner).

2 Taxpayers can opt for the standard deduction or for actual expenses incurred.

3 Non-taxable item for each taxpayer is SKK87,936 in 2005. Exchange rate as of 29 September 2006: €1=SKK37.34.

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