In Slovakia, tax regulations stipulate that if an individual sells real estate they have owned for less than five years, they are obligated to report the income and pay taxes, which include health insurance contributions. The Financial Administration is sending letters to nearly 7,000 individuals who sold properties last year, informing them about their obligation to declare any income generated from these transactions in their tax returns.

Since 2022, the administration has been actively notifying taxpayers who sold properties between 2019 and 2021. In 2022 alone, 5,678 taxpayers received such letters, leading to approximately 3,000 individuals submitting additional tax returns, which contributed over 9 million euros to the state budget. The previous three years of these notifications have collectively added 29 million euros to state revenues, highlighting the importance of compliance with tax filing requirements related to real estate sales.

These initiatives are part of a broader effort by the Financial Administration to ensure that all income is properly reported and taxed, thus reinforcing the tax compliance framework within Slovakia. As the deadline for filing approaches, it is essential for individuals who have sold properties recently to be aware of these requirements to avoid potential penalties.