Finance and financial management · August 24, 2023 · 1 min read
“Business news: setting the minimum wage for 2024 and changes in penalties for tax breaches”
Minimum wage 2024
On 21 August 2023, employer and employee representatives agreed on the amount of the minimum wage for 2024. The minimum wage for an employee paid a monthly wage will be €750 (this applies to the first level of work difficulty).
The minimum wage for each hour worked by an employee with a set weekly working time of 40 hours will be €4.310.
Minimum wage in 2024 by level of work difficulty:
Level 1 -> €750/month / €4.310/hour
Level 2 -> €866/month / €4.977/hour
Level 3 -> €982/month / €5.644/hour
Level 4 -> €1,098/month / €6.310/hour
Level 5 -> €1,214/month / €6.977/hour
Level 6 -> €1,330/month / €7.644/hour
With a set weekly working time of 38.75 hours, the minimum wage will be €4.449 for each hour worked by the employee.
With a set weekly working time of 37.50 hours, the minimum wage will be €4.597 for each hour worked by the employee.
The second-chance mechanism
A new legislative change, the so-called second-chance mechanism for imposing
fines, should apply from next year. Taxpayers should not be penalised straight away for a first breach of any
of the provisions of the Tax Procedure Code.
The tax office will first send them a warning that they are not meeting their tax obligations, and they should also
be informed of the consequences of any further breach of their obligations. The tax administrator will
send the warning in the form of a Notification (Oznámenie) to their mailbox on the Central Public Administration Portal.
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