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There are two main personal income tax rates levied in Slovakia: a 19% rate on income up to 176.8 times the subsistence level, which is EUR 41,445.49 as of 2023, and a 25% rate for the exceeding part of the income. Revenue generated from capital gains falls within a special tax bracket, which is subject to taxation at a rate of 19%.
The economy of Slovakia is based upon Slovakia becoming an EU member state in 2004, and adopting the euro at the beginning of 2009. Its capital, Bratislava, is the largest financial centre in Slovakia. As of Q1 2018, the unemployment rate was 5.72%. [22] Whereas between 1970 and 1985 real incomes increased by about 50%, they fell in the 1990s.
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Corporate tax rates generally are the same for differing types of income, yet the US graduated its tax rate system where corporations with lower levels of income pay a lower rate of tax, with rates varying from 15% on the first $50,000 of income to 35% on incomes over $10,000,000, with phase-outs.
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The Government of the Slovak Republic (Slovak: Vláda Slovenskej republiky) exercises executive authority in Slovakia. It is led by the Prime Minister of Slovakia, who is nominated by the President of Slovakia and is usually the leader of the majority party or a majority coalition after an election to the National Council of the Slovak Republic ...
September 30: 2023 Slovak parliamentary election: Slovaks go to the polls to elect 150 members of the National Council. [7] October 11: Smer leader Robert Fico agrees to form a coalition government with the left-wing Hlas and ultranationalist Slovak National Party, paving the way for Fico to become Prime Minister of Slovakia for a fourth time. [8]