Employers and employees will soon face fundamental changes in the application of the tax bonus for dependent child. These changes are part of the so-called "anti-inflation package" of the Ministry of Finance of the Slovak Republic.

Tax bonus for a dependent child can be claimed by the taxpayer for each dependent child living with him in the household, who is considered a dependent child.

From July 1, 2022, the amount of the tax bonus will not only depend on the age of the child, but also on the amount of the employee's tax base and the number of children.

The condition for achieving taxable income according to § 5 or § 6 par. at least in the amount of 6 times the minimum wage, with effect from 1 July 2022, it does not apply, but a limitation of the amount of the tax bonus to the amount of the partial tax base established by law, depending on the number of children, is introduced.

CHILD TAX BONUS from 1/7/2022 to 31/12/2022

• €70 per child under the age of 15
• €40 per child aged 15 and over

At the same time, but up to a maximum height of:

• 20% of the partial tax base - for 1 child
• 27% of the partial tax base - with 2 children
• 34% of the partial tax base - with 3 children
• 41% of the partial tax base - with 4 children
• 48% of the partial tax base - with 5 children
• 55% of the partial tax base - for 6 or more children

At the same time, until the end of 2022, the provision applies that the employee's tax bonus for the months of July to December 2022 will be calculated "according to the old" and "according to the new" method, and he will be paid the amount of the tax bonus that is higher, which means that it is also possible to proceed in a way that was effective until 6/30/2022, if it is more advantageous for the taxpayer.

After the annual settlement (when filing the tax return) for the year 2022, the entitlement to the child tax bonus will then be recalculated and a higher amount will be granted.

The President's veto was overridden by the NRSR on June 22, 2022. We are monitoring the legislative process and will update the article.