Taxation of financial transactions in Slovakia

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void

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Oct 3, 2017
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I cannot find any serious link to a source in English at the moment but to keep you guys updated on the latest bizarre idea... Slovakia is going to tax bank transactions at 0.4% (capped by 40 EUR) and cash withdrawals at 0.8%.
 
Inspired by Fico's good friend Orban with his 0.3% (raised to 0.45% this August) tax‌ on transactions in Hungary as well, I guess.
 
Exactly, often‍ in Hungary you can withdrawal any amount of money (till you have it in your⁠ bank accounts). Euros withdrawal at the cashier is usually taxed à 0.90% with a maximum⁤ around 500€.

Same at ATM. Last time got 13€ something by 2K withdrawal, so slicy⁣ less.. around 0.65%
 
It's not to give them,‍ but in some situations you want to use these bank accounts (at least temporarily or⁠ for certain operations) because :

- You can withdraw any money you want, without stupid⁤ policies like many western countries (like 'oh sorry we dont have enough cash at the⁣ bank to allow the withdrawal' or 'why do you have to withdraw more than 1000e,⁢ what you want to do with this etc.." and all these bulls**t)
- Because you︀ are happy if you still can receive / send high figures transfer (at least sepa)︁ without pending/blocking / manual verification and all blabla..

So for these situations, I am happy︂ to pay some extra fees when I am using these accounts instead to use 'free'︃ western european banks but headache and problem 90%+ of the times
 
And to‌ be exact, it is just a governmental proposal as of now, not approved by the‍ parliament yet – AFAIK. (But I don't doubt that current Slovakian parliament will approve, if⁠ asked.)

Probably it should compensate that from what I've learned, within the same proposal, the⁤ VAT for pubs should be lowered from 23% to 5% 😉 😉

BTW, in Hungary this concerns also private︀ accounts, AFAIK.
 
Yes but with conditions like this, people normally keep︃ the money at home. Like here (no tax, just hefty bank fees):
https://<<snippet>>.com/finance/investing/georgia-real-estate/
 
i heard it may even apply to txs between payment processors and you, so basically‌ double tax, its vague and bizarre. slovakia is a strange place.
 
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