Located in Central Europe, Slovakia is a member of the European Union since 2004 and of the Economic Monetary Union since 2009.
Slovakia is a high-income, developed economy with a high standard of living. Slovakia successfully transformed from a centrally planned economy to a market-driven economy.
Withholding tax rates in Slovakia are 0.0-19.0 %. Slovakia signed 64 double taxation agreements.
Slovakia didn't sign the automatic information exchange agreement and didn't indicate a timeline of the start of the automatic information exchange.
Slovakia has FATCA agreement with the U.S. in effect since 31 July 2015 (Intergovernmental Agreement Model 1).
The banking sector of Slovakia is highly concentrated and is dominated by foreign-controlled banks. Banks in Slovakia operate as universal banks.