Taxable entities liable for this tax include legal entities and organisational units of foreign entities which meet at least one of the following conditions:

• Have a registered office or place of business in Slovakia;
• Have a payment account at a payment service provider in Slovakia;
• Perform business activities in Slovakia (this provision also applies to foreign entities not domiciled in Slovakia, regardless of whether or not they are registered for VAT pursuant to Article 5 of the VAT Act).

For natural persons, the tax will only apply to entrepreneurs who are clients of a payment service provider, including clients of foreign payment service providers.

Entities not liable for this tax include:

• The Social Insurance Agency, Matica slovenská, The Slovak Academy of Sciences, The Health Care Surveillance Authority;
• Budgetary and contributory organisations; 
• Municipalities and higher territorial units; 
• Civic associations, foundations, non-investment funds, non-profit organisations providing public benefit services, special-purpose facilities of a church and religious society, interest groups of legal entities, research and development entities, organisations with an international element, the Slovak Red Cross, and entities whose core activity is an activity pursuant to Article 50 (5) of Act No. 595/2003 on Income Tax, as amended;
• Regional and district tourism organisations, tourist information centres;
• Diplomatic missions and consulates seated in the Slovak Republic, except for consulates led by an honorary consul;
• Diplomatic missions and consulates accredited for the Slovak Republic and seated outside of the Slovak Republic, except for consulates led by an honorary consul;
• Schools and school facilities included in the network of schools and school facilities in the Slovak Republic, except for schools and school facilities which are companies.

A payer of the tax, primarily the payment service provider or its organisational unit with its registered office in Slovakia, is required to calculate and pay the financial transaction tax (“transaction tax”) and file a notification on the tax amount to the tax administrator. 

If the payment service provider does not have a registered office or an organisational unit in the Slovak Republic, or if the taxable entity does not make financial transactions via a transaction (business) account, or a financial transaction was made by a person other than a taxable entity, the taxable entity is the payer of the tax.

The tax base is the amount of a financial transaction and the applicable tax rates are as follows:

• 0.4% of a financial transaction amount for each debited financial transaction, up to a maximum tax amount of EUR 40 per transaction;
• 0.8% of a cash withdrawal amount for a cash withdrawal from a business account (ATM or at the branch), with no maximum tax amount per transaction determined; 
• EUR 2 p.a. for the use of a payment card regardless of how many times the card was used during the year;
• 0.4% of the full amount of a financial transaction made on behalf of a taxable entity by another person for the recharge of expenses related to the performance of financial transactions which relate to the taxable entity’s activities in Slovakia. If it is possible to identify specific liabilities of the taxable entity settled via this transaction, a maximum tax amount of EUR 40 will apply.
  

Transactions not subject to the financial transaction tax include, inter alia, the following:

• Payment transactions related to the payment of tax and social security and health insurance contributions; 
• Payment transactions made between the taxable entity’s accounts held with the same provider;
• Payment transactions made using a payment card, excluding cash withdrawal;
• Clearing “cash pool” transactions at the same provider associated with the automatic offset of account balances of taxable entities which are members of a consolidation group if the payment transaction is made at the same provider.