Slovakia: Personal Taxation
Social Security Taxes
Both employers and employees are subject to social security taxes on an employee's gross monthly pay. The rates are 35.2% for employers and 13.4% for employees. However, contributions are capped at a maximum of EUR919.26 for employers and EUR343.21 for employees per month.
The Slovak government announced in August, 2010, that it plans to reform the social security system. The changes include an amendment to the calculation of pension benefits, the introduction of a minimum old-age and disability pension, among others. Furthermore, the government proposes to abolish the tax deductibility of voluntary pension contributions (current limit EUR398.33 annually).