Financial Transaction Tax 2026: Self-employed individuals are no longer subject to it, but companies are still liable. What does this mean in practice?
The year 2026 brought one fundamental change to the financial transaction tax: if operating as a sole trader (natural person – entrepreneur), from 1 January you are no longer a taxpayer of this tax. If doing business through a limited liability company or another legal entity, the tax may still apply. At first glance, this seems like a simple sentence. In practice, however, what matters is who makes the payment, from which account it is sent, what type of transaction it is, and how the movement is recorded in the accounting.
That is why it is worth not focusing only on how much the bank deducted. It is more important to set up, from the beginning of 2026, a system in which tax, bank fees, the accounting transaction itself, and any exceptions can be distinguished. With dozens or hundreds of transactions per month, even a small inaccuracy quickly turns a bank statement into an unclear mess.
The biggest change from 1 January 2026: Self-employed persons are no longer taxpayers
The Financial Administration states that from 1 January 2026, a natural person – entrepreneur is no longer a taxpayer of the financial transaction tax. The last tax period for a natural person – entrepreneur was December 2025. The tax for this period is paid for the last time in January 2026, depending on who is the taxpayer in the specific case.
Therefore, if operating as a sole trader, this change simplifies one part of administration and costs. However, it does not mean that a business bank account, bank statements or correct posting of payments cease to be important. Accounting needs to be able to prove what was income, what was an expense, what was a private transaction and what was related to business activities.
IMPORTANT Practically: "Self-employed persons no longer pay the transaction tax" is not the same as "Self-employed persons no longer have to deal with bank transactions." For accounting purposes, the bank statement remains one of the key supporting documents.
S. r. o. and other legal entities: the transaction tax continues
For legal entities, the financial transaction tax will remain part of business reality in 2026 as well. The basic principle is that selected outgoing financial transactions are monitored. An incoming payment to an account is not subject to tax merely because it has been credited to a business account.
For a standard debit transaction, the rate is 0.4% of the tax base, up to a maximum of €40 per transaction. For cash withdrawals, the rate is 0.8% with no upper limit. For the use of a payment card issued for a transaction account, a fixed amount of €2 per year is applied if the card has been used in a way that the law considers taxable.
Simple example
If an s.r.o. pays a supplier invoice in the amount of €5,000, for a tax‑subject transaction 0.4% represents a sum of €20. If it were a standard payment of €20,000, the mathematical 0.4% is €80, but for this type of transaction a cap of €40 applies. For cash withdrawals, such a cap does not apply.
What a company should check right at the beginning of the year
- whether the bank accounts and payment services used by the company are correctly set up and assigned to the accounting system;
- how the bank shows the withheld transaction tax on the statement and whether the accounting software imports it as a separate transaction;
- whether the company makes cash withdrawals that are, in terms of the tax rate, more expensive than standard debit transactions;
- whether costs are being recharged between related persons or companies in a way that may create an additional obligation;
- who in the company checks exceptions and who deals with any discrepancies with the bank or the tax authority.
The biggest mistake is relying on the idea that “the bank will take care of everything.” In many standard situations, the bank does indeed collect and remit the tax, but the company’s responsibility for providing correct documentation and accounting does not end there. In addition, there are situations in which the taxpayer may be the one liable for paying the tax.
How to read the transaction tax through accounting, not through feelings
A transaction tax tempts businesses to micro‑optimize every single payment. A more useful perspective is to look at cash flow and processes as a whole. If a company sends a large number of small payments, makes frequent cash withdrawals, or reallocates costs chaotically between entities, the problem is not just the tax. It is a signal that financial processes need to be cleaned up.
In a well‑set double‑entry accounting system, it is possible to trace back the invoice, the payment, the related tax, and the bank fee. From a management perspective, this provides a better answer to the question of how much a specific process actually costs. With external accounting, it is beneficial to submit documents and bank statements regularly and electronically – not only when a tax return or closing date is approaching.
What this means for sole traders versus limited liability companies
What to watch out for when optimizing payments
It is natural to look for ways to reduce transaction tax costs. However, caution is needed with solutions that may look cheaper on a single bank entry, but create more complicated re-postings, poorer cash-flow control, or additional accounting risks. For larger payments, it is useful to know the statutory cap, while for cash it is important to remember that the 0.8% cap does not apply. The decision on the method of payment should therefore be based on the actual business process, not on an online “trick”.
If a company uses multiple banks, a foreign account, or payment services outside a standard Slovak bank, it is advisable to assess the situation separately. The mechanism for collecting the tax may differ from that of a standard payment from a Slovak account. The accounting department should know where the payment originated and who, in the given case, was responsible for calculating and remitting the tax.
How we can help with this
If there is no desire to deal with every bank transaction only at the end of the month or year, it is possible to set up ongoing management of single-entry or double-entry bookkeeping so that documents, bank transactions, and outputs form one logical whole. For a company, the goal is not only to "record the entries", but also to keep order in the documentation and to understand what is happening in the numbers.
Questions and Answers | FAQ
1. Platí živnostník transakčnú daň v roku 2026?
From 1 January 2026, a natural person – entrepreneur is no longer a taxpayer of the financial transaction tax. The last taxable period was December 2025.
2. Je každá odchádzajúca platba s.r.o. zdanená 0,4 %?
No. The law defines the tax base as well as exemptions. However, for a standard taxable debit transaction, a rate of 0.4% applies with a limit of €40 per transaction; cash withdrawals are subject to a different rate.
3. Stačí, keď transakčnú daň vypočíta banka?
In common banking situations, the bank often acts as the tax remitter, but the company must have the correct accounting documentation and distinguish situations in which its own tax obligation may arise.
4. Čo zahŕňa služba účtovníctvo?
The service includes processing accounting documents, ongoing record-keeping, outputs, deadline management, and, depending on the scope of cooperation, also VAT, financial statements, or additional administrative tasks.
5. Pre koho je externé účtovníctvo vhodné?
For sole traders, small businesses, and growing companies that want their accounting handled professionally without the need to build an internal department.
6. Môžem prejsť k vám od inej účtovníčky alebo firmy?
Yes. We will help with a smooth transition, taking over all materials, and setting up a new system of cooperation.
7. Dá sa spolupráca nastaviť individuálne?
Yes. Well-managed double-entry bookkeeping provides more reliable data for decision-making and a better overview of how the company operates.
8. Čo sa stane po odoslaní nezáväznej objednávky?
After sending the non-binding order, all necessary information and instructions will be sent by e-mail. Depending on the nature of the request, a phone call may also be made to go through everything together. Once all the necessary details are received, all documents will be prepared and sent by e-mail along with instructions.
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Need to have your accounting under control in 2026?
Take a look at our accounting services for sole traders and companies. The price quote depends on the type of accounting, VAT registration status, and the number of accounting entries.
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