As a member of the European Union, the Republic of Slovakia is considered to be stable and prosperous economy. The capital of the country is Bratislava, where the majority of governmental and parliamentary offices are located. The population of the capital city is estimated at 462, 603 inhabitants. With Slovaks dominating at 85.8%, the country boasts a number of nationalities including Hungarian, Romanians, Czechs and other European minorities.
The following is a brief outline of the working conditions and benefits offered in Slovakia:
Slovakia implements a flat tax rate of 19% on all income earned in the country. All employees are required to pay the flat tax rate regardless of what income they are earning. Other taxes in the region include interest on savings and tax on income earned from rent; however the country exempts individuals from paying inheritance, gift tax and real estate transfer tax.
Individuals working in Slovakia are automatically enrolled in the social security system of the country. This means that employees must contribute a certain percentage of their earned income to the social security fund. This fund contributes to the following:
Employees working in Slovakia are entitled to flexible working hours, with the majority of companies offering individuals the opportunity to delegate their working hours as they please – provided that they work a minimum of 40 hours per week. All employees must work for 5 days every week, with Saturday and Sunday being off. The work break is a minimum of 30 minutes, however the employer may offer up to an hour.