On October 3, 2024, the members of the National Council of the Slovak Republic definitively approved a package of measures for the consolidation of public finances (consolidation package). It also included the approval of the increase in the limit of the maximum assessment basis for the payment of social contributions, which is effective from 1st of January 2025.
In 2024, the maximum monthly assessment base in the amount of 7 times the average monthly wage in the Slovak economy two years ago applies for the last time, i.e. in the amount of 9 128€. From January 2025, the amount of the assessment base will increase again, to the level of 11 times the average monthly wage in the economy of the Slovak Republic two years ago, i.e. from the year 2023, which was at the level of 1 430 €. According to the calculation, the new amount of the maximum monthly assessment base will be (11 x 1 430 €) in the amount of 15 730 €.
Due to the year-on-year increase in the average monthly wage in the economy of the Slovak Republic, the maximum assessment base will probably grow every year and so will the amount of maximum social contributions. For some self-employed people (SZCO), the acceptance of the consolidation package may result in an even more significant increase, if their assessment base exceeds 10 010 €.
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