Following two amendments to the transaction tax law, numerous exemptions have been introduced. However, these exemptions are not automatically granted to everyone—clients must notify their banks if they qualify. Certain organizations, such as civic associations, foundations, and tourist information centers, are fully exempt from the tax.
Some clients may benefit from exemptions for specific types of payments, including social security contributions and transfers between accounts held by the same client within the same bank.
Special Accounts for Exempt Transactions
In some cases, banks may not be able to automatically identify whether a transaction qualifies for an exemption. To address this, clients are advised to maintain a special account separate from their business account for tax-exempt transactions.
Different Notification Procedures Across Banks
Banks have been given the flexibility to determine their own notification procedures. Most banks require clients to fill out one of two forms: one stating that the transaction tax does not apply to them at all, and another specifying the account number from which tax-exempt transactions will be conducted.
Bank-Specific Exemption Procedures
Tatra Banka: Clients who believe they are exempt but have not received a notification can submit a designated form. This can be done in person at a branch, via email with a scanned copy, or through the DIALOG Live service.
VÚB Banka: Clients must submit a form along with supporting documents. Failure to do so means all transactions will be taxed. As of March 1, exemptions can also be declared through Internet Banking under the "Remote Banking" menu, selecting "Transaction Tax."
UniCredit Bank: Clients must specify their company details and the reason for exemption in the notification form. If transactions are carried out through a special account, an additional form is required, indicating the exempt transaction types. Submissions can be made in person or electronically.
ČSOB Bank: Clients must submit a completed and signed financial transaction tax exemption form. The bank will stop taxing transactions from the day after submission, but not before April 1. The form can be submitted in-branch or via email, provided it is electronically signed.
Importance of Timely Notification
Clients eligible for exemption must submit the required forms and supporting documents to their bank on time. If no notification is provided, all transactions will be subject to the transaction tax.
By staying informed and following the correct procedures, clients can ensure that they benefit from the available tax exemptions and avoid unnecessary charges.
Source: Dennik N
