One sentence summary | May 2024

According to the published draft of the Decree of the Slovak Ministry of Labour and Social Affairs and Family, the amounts of the minimum subsistence allowance for an adult individual person should increase with effect from 1 July 2024 from EUR 268.88 to EUR 273.99, for another assessed adult individual person from EUR 187.57 to EUR 191.14, and for a child from EUR 122.77 to EUR 125.11. The following change will also affect tax, social and payroll variables in this respect.

The period of the social security contributions relief for employers in the food and agriculture industry is coming to an end. With the latest amendment, this form of state aid expires at the end of June 2024. You can find more detailed information on the Social Insurance Agency 's website.

The Slovak Ministry of Labour, Social Affairs and Family discussed a draft amendment to the Minimum Wage Act, which should change the statutory mechanism set-up from the current 57% to 60% of the average wage. The current amount of the minimum wage is EUR 750 for full time employees working 40 hours per week. At the same time, negotiations are continuing on an acceptable solution from the perspective of both the employee and the employer.