Slovakia Seeks Feedback on Global Minimum Tax Draft Legislation

Slovakia’s finance ministry is asking for comments on draft legislation that would implement a 15% minimum corporate tax rate.

The draft legislation, released Thursday, would implement the so-called Pillar Two of the OECD-led global tax agreement. The measure would take effect Dec. 31, 2023, and would require parliamentary approval later this year.

• The proposal includes a domestic top-up tax mechanism that would prevent other jurisdictions from levying a top-up tax on any of Slovakia’s potentially low-taxed profits.
• The 2024 costs for implementing the proposal in Slovakia are estimated to cost more than 455,000 euros ($497,000). Budgetary revenue is ...