What are my tax obligations in January?

The start of a new year brings not only renewed plans and commitments but also the tax obligations that await us at the beginning of January 2024. As the start of the calendar year approaches, taxpayers face a range of tasks and responsibilities relating to their tax obligations. In this article, we look at several aspects of these obligations that need to be dealt with at the start of the year and provide useful information. Whether it is filing tax returns, updating payroll parameters or other tax tasks, this article will help you find your way around the important tax matters at the start of the new year.

Property tax return for 2024

Every person, whether an individual (natural person) or a legal entity, who during calendar year 2023 became the owner (or user, administrator or tenant) of a property is required to file a property tax return by 31 January 2024. The same obligation applies to persons whose circumstances have changed in any way since their last return was filed. This obligation covers flats, houses, buildings, land and non-residential premises. The tax administrator is the relevant town or municipality, so the return must be filed with the relevant local or municipal office. The status of the property as at 1 January 2024 is decisive for this return.

At the same time, it is important to remember other local taxes too, for example taxes administered by the municipality or town, such as dog tax, tax on non-gambling amusement machines and others. These taxes are declared on the same form and by the same deadline as property tax.

Motor vehicle tax return for 2023

An entrepreneur (an individual or a legal entity) is required to file a motor vehicle tax return for 2023 if during that year they met at least one of the following criteria:

• they were registered as the keeper of the vehicle,
• they used the motor vehicle for business purposes,
• they kept accounting records for the vehicle,
• they were an employer and provided employees with travel allowances for the use of a private vehicle.

The vehicle must be registered in the Slovak Republic. The deadline for filing the tax return and paying the tax is 31 January 2024.

If in 2023 no accounting records were kept for the vehicle, the vehicle was not recorded in the tax records, or no expenses associated with its use were claimed, you can report the termination of the motor vehicle tax liability by 31 January 2024.

Notifying the tax administrator that withholding tax was not withheld for 2023 – Copyright Act

Legal entities and individuals who in 2023 were recipients of copyright works (including their creation and use) or artistic performances and concluded an agreement not to withhold withholding tax with the authors are required to notify the tax administrator by 31 January 2024 that they have concluded a written agreement with these authors not to withhold the tax.

Minimum wage increase for employees from 1 January 2024

Every employer that pays its employees the minimum wage is required to adjust this minimum wage from the beginning of January 2024 to the levels applicable for 2024, according to the levels of work difficulty.

The minimum monthly wage of €750 in 2024 applies to an employee paid monthly who works at the first level of work difficulty. This increase of €50 from €700 (in 2023) represents a rise of 7.14%.

The minimum wage rises in line with the levels of work difficulty. The employer is required to pay the employee a wage in the amount of the minimum wage or the minimum wage corresponding to the level of work difficulty of their job.