Information on the Financial Transactions Tax

Transactions subject to the Tax:

• financial transaction that involves debiting funds from a transaction account, or
• the use of a payment card issued to the transaction account for the purpose of executing a financial transaction, or
• recharged costs related to the execution of a financial transaction that pertains to the taxpayer's activities carried out in Slovakia.

The Act also specifies which financial transactions are not subject to the Tax, namely:

• financial transactions of persons to whom the Tax does not apply pursuant to Section 3, paragraph 2 of the Act, and
• financial transactions specified as exceptions in Section 4, paragraph 2 of the Act.

Pursuant to the Section 12, paragraph 7 of the Act, the relevant client shall notify the bank that:

• it is not a taxpayer under the Act. A template of such notification can be found here; or
• its financial transactions are not subject to the Tax pursuant to Section 4, paragraph 2, letters c), e), f), j), l), m), o), q), r), v) to z), ab), ad) to ag), and designate a special account from which such financial transactions are executed (hereinafter referred to as the "Special Account"). A template of such notification can be found here.

The completed and signed notification must be delivered to your relationship manager:

• by email, if the notification is signed with a qualified electronic signature, to email address of your relationship manager or to the general email: client.services@ing.sk 
• by post, to the address: ING Bank N.V., pobočka zahraničnej banky, Plynárenská 5944/7C, 821 09 Bratislava

Upon meeting the conditions, these transactions will not be subject to the Tax from the day following the day of proper delivery of the notification to the bank.

Selected information about our technical and other processes in connection with fulfilling the requirements of the Act

Tax settlement

• the first tax settlement will be carried out by the bank no later than 31.7.2025 and will cover the period from 1.4.2025 to 30.6.2025 (hereinafter referred to as the "first tax settlement");
• each subsequent tax settlement for the relevant calendar month will be carried out no later than 10th working day of the following month.

Method of accounting and informing the client

The Tax will be recorded on the account as follows: aggregated in one item for the entire taxable period of one month, with clients being sent an itemized list of transactions with the tax calculation once a month. The exception will be the first tax settlement, which will cover the entire period of the first tax settlement (excluding clients who cancel their transaction account in period between 01.04.-31.05.2025 and are required to calculate and pay the tax themselves). The list of transactions will be sent to clients to the Download Centre of InsideBusiness Portal. For the avoidance of doubt, the bank reserves the right to change this method from time to time.

Designation of the Special Account and the need to open a new account for this purpose

As stated above, financial transactions listed in Section 4, paragraph 2, letters c), e), f), j), l), m), o), q), r), v) to z), ab), ad) to ag) of the Act shall be executed by the client from the Special Account notified to the bank. It does not have to be a new account. If the client can allocate/select one of its existing accounts for these transactions and notifies the bank of such an account in the manner stated above, this procedure is acceptable.

Please note that neither notification nor designation of such a Special Account is required for transactions which (i) are exempted from the Tax under Section 4, paragraph 2 of the Act and (ii) are not specified in Section 12, paragraph 7 of the Act.