Slovak Republic Publishes Law Introducing New Insurance Tax Regime

The Slovak Republic has published Law No. 213 of 20 June 2018, which introduces a new tax regime for non-life insurance. Key points include:

• The standard tax rate is 8% and applies for non-life insurance products where:
  • The insured property is in the Slovak Republic, except goods in commercial transport;
  • The insurance covers any means of transport that is or should be registered in the Slovak Republic;
  • The policy is for short-term coverage in connection with travel or holiday; and
  • Other cas…