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| Employers are calling on the government for a clear position on the transaction tax. |
| Bratislava, 29.09.2026 |
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| Employers belonging to the Construction Industry Association of Slovakia (ZSPS) are calling on the government to present, as soon as possible, a clear and economically grounded position regarding the future of the financial transaction tax from 2027 onwards. Ambiguous and contradictory signals from the state have not only political but also tangible economic impacts on companies and their future investment decisions—and, ultimately, on the state's economic performance. The ZSPS announced this on Monday.
The professional association representing construction industry employers views with concern the recent contradictory statements made by government officials regarding the future of the financial transaction tax. According to the association, such uncertainty reduces the predictability of the business environment and negatively affects the investment decisions of companies and investors.
"Construction stakeholders need to know the rules that will govern contracts during the execution of a project. When significant changes to conditions are publicly announced and subsequently called into question, it undermines the confidence of both entrepreneurs and investors. And without confidence, planning investments becomes much more difficult," noted ZSPS President Pavol Kováčik.
The ZSPS considers it unacceptable for state representatives to communicate conflicting information regarding fundamental changes to the tax environment within the span of a few days. According to the association, such statements cannot be viewed merely as part of political communication, given that they carry real economic and financial consequences. The construction industry is a sector where investment decisions are not made with a short-term horizon of just a few weeks; projects undergo preparation and financing over the course of years. "Companies plan their investments, pricing, cash flow, financing, staffing, and supplier relationships well in advance. Most construction contracts cover periods exceeding one year, with large-scale projects spanning several years. If business conditions shift drastically during project execution, companies cannot reliably forecast costs or the return on investment," noted the ZSPS.
The transaction tax is a particularly sensitive issue for the construction industry, which deals with high volumes of financial flows and payments involving investors, general contractors, multiple tiers of subcontractors, and material suppliers. Within the supply chain hierarchy—ranging from raw materials and product groups to specific project components, individual structures, and the completed project as a whole—the transaction tax could be applied and paid up to seven times for every euro of the project's final value.
"With average profit margins hovering between 3% and 4%, whether or not construction stakeholders must remit the transaction tax is a matter of significant consequence. Thus, the issue is not merely the magnitude of the tax itself; the uncertainty regarding the rules that will govern business operations one, two, or five years down the line poses an equally serious problem," the ZSPS added. In addition to the transaction tax, the construction sector in Slovakia has long been burdened by a combination of a high tax on primary mineral resources and one of the highest VAT rates—23% (with the exception of state-supported rental housing)—which negatively impacts overall construction costs.
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Address : Euro-Brew Ltd., Hlboká 22, 917 01 Trnava, Slovakia
Tel. : +421 33 53 418 53, Fax : +421 33 53 418 52, E-mail : info@eurobrew.sk |
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