The beginning of the new year brings many responsibilities for entrepreneurs that need to be fulfilled in the first quarter. From tax returns and payments to financial statements and various administrative reports, along with keeping up with regulatory changes. To help you navigate this web of deadlines and obligations, we have prepared an overview of the most important tasks awaiting you in the first months of 2025.
January
- Property tax: Property tax returns must be submitted by January 31. This applies to all property owners in Slovakia, both individuals and legal entities. Make sure to check if the tax rates for your property have changed.
- Local taxes: Like property tax, local tax returns (e.g., dog tax, vending machine tax) must also be submitted by January 31.
- Waste reporting: Companies producing or handling waste must submit an annual report on waste production and management by January 31.
- Adjustment of maximum contributions for self-employed persons: As of January 1, maximum social contributions for SZČO will be adjusted. It is essential to monitor these changes and adjust your payments accordingly.
- Change in Corporate Income Tax Rate: The corporate income tax rate will change in 2025. It is important to familiarize yourself with these changes and adjust your tax planning accordingly.
February
- VAT control statement: VAT payers must submit the VAT control statement for the previous calendar year by February 25.
- VAT summary statement: VAT payers who supplied goods to other EU member states must submit the VAT summary statement for the previous calendar year by February 25.
March
- Income tax return: Income tax returns for both individuals and legal entities must be submitted by March 31. Ensure that all necessary documents and information are prepared on time.
- Income tax payment: Income tax must also be paid by the tax return deadline.
- Annual financial statements: Annual financial statements must be prepared and submitted to the financial statements register by March 31.
- Business account setup for self-employed: Self-employed persons without a separate business account must open one by March 31, 2025. Additionally, a new financial transaction tax will come into effect from April 1, 2025.
Don’t forget other duties these are just the basic responsibilities. Monthly tax obligations such as paying contributions, submitting monthly VAT control statements for VAT payers, and many others must also be considered. With numerous obligations and annual regulatory changes, having your own tax advisor and accountant is highly recommended.
If you wish to manage tax responsibilities independently, the Financial Administration’s tax calendar or the Podnikam.sk tax calendar can be helpful tools.