With Heureka to Slovakia

Slovakia is a country of 5,4 million people strategically located in the geographic heart of Europe. The Slovak market is increasingly dominated by the automotive, electronics, engineering, tourism and service industries. In addition to its strategic location and educated population, Slovakia’s stable macroeconomic policies have made it a good place for exporters to do business.

Slovakia adopted the euro (EUR) as its currency on January 1, 2009, becoming the 16th member of the European Monetary Union, resulting in the facilitation of trade through lower transaction costs, higher pricing transparency and greater monetary stability. Slovakia has a positive financial outlook according to Moody’s and a stable financial outlook according to S&P and TE rating agencies. Real GDP growth reached 4,1% in 2018, one of the fastest growth rates among all EU countries.

5,4

million population

% population active on the internet

% VAT – high tax burden

About Slovakia

E-commerce share of retail
E-commerce in Slovakia represents 7% of the country´s total retail trade making 1,36 billion EUR in 2019.
Accounting
The fiscal year begins on 1 January and ends on 31 December of the same year, although the taxpayer can elect a different fiscal year. The tax period may be shorter, for example, if the company moves from a calendar year to a fiscal year.
Certification and Auditing
The Law on Accounting lays out conditions under which companies are required to have their financial statements audited by a certified auditor.
Taxation in Slovakia
The basic VAT is 20%. A reduced rate of VAT of 10% applies to basic foodstuffs, some pharmaceutical products; some medical equipment for disabled persons; books (excluding e-books); hotel and accommodation.
Certain supplies and services are exempt without credit entitlement (certain postal services, financial and insurance services, education, public radio and TV broadcasting services, health and social services, the transfer and leasing of real estate (with exceptions), and lottery services); others are exempt but give the right to credit (financial and insurance services provided to extra EU customer, supply of goods to other EU member states, certain import of goods, and export of goods and services).
There are excise duties on tobacco products, wine, spirits, beer, mineral oil, electricity, coal, and natural gas.
More information about auditing
Companies classified as public interest entities (PIEs), cooperatives, and other companies that are created with share capital and that trade on a regulated market, or meet two out of three criteria (total assets greater than EUR 1,000,000; net turnover of more than EUR 2,000,000; and average number of employees exceeding 30) are subject to statutory audit. The National Bank of Slovakia has the authority to stipulate certain financial reporting requirements for entities that fall within its purview in addition to the obligations outlined in the Accounting and Auditing Acts.
You can contact an external auditor: KPMG, Deloitte, Cascaya Slovakia, Ernst&Young, PricewaterhouseCoopers.
Find out more about Taxes and Accounting in Slovakia on GlobalTrade.net, the Directory for International Trade Service Providers.
Source: NordeaTrade.com

internet market overview

There are 12 600 online merchants on the Slovak online market making Slovakia a well developed country concerning e-commerce. Slovak customers are used to high-quality services so as the Czech ones - they benefit from both e-commerce markets overlapping (Czech merchants serving Slovak customers and vice versa). The Slovak e-commerce market is however strongly fragmented without any global player. The largest e‑shop on the market is Alza.sk. 61% of all online acceses come from mobile devices.

3,2

million people shopping online

% e-commerce growth rate

6,5

% online share of retail

The strongest players in e-commerce

Heureka.sk is one of the biggest websites on the Slovak market belonging to the TOP 10 most visited websites list. The biggest e‑shops and online players are Alza.sk and Mall.sk followed by Nay.sk, Najnákup.sk, Glami.sk and Favi.sk. These 5 players have a 30% share of the market.

Growth of e-commerce

Slovak e-commerce grows every year, in 2018 by 23%. This growth however slows down by approx. 1-2% every year.

Popular payment types

The most popular is payment by card, followed by traditional payment on delivery.

E-commerce revenue

Slovak e‑shop turnover was 1,36 bil. EUR in 2019, 20% more than the year before. The most popular segment was electronics with a 40% share followed by House and garden equipment (16%) and Cars (9%). Slovak customers shop more often in the lower values. The trend is to shop daily consumption goods as food, cosmetics, drugstore products, pills and so on online as well.

Internet penetration

While in 2004, four percent of households had access to the internet via broadband, the share increased to 79 percent in 2017. In 2022, the share of monthly active internet users is projected to reach 81.5 percent of the total population. (statista.com)

Favorite shopping categories

The most common items purchased online include electronic products, fashion products, housing and gardening equipment, books, medicine and health supplements.

I want to expand

our platform Heureka.sk

Safe, simple and comfortable online shopping - that's Heureka, the biggest price comparison and shopping advisor on the Slovak market. Heureka belongs to the TOP 10 most visited websites in Slovakia. It features an overview of products offered in all categories along with great filtering mechanisms, drawing price comparisons, e‑shop and product reviews, as well as write-ups and experiences of other customers.

We tag all quality and reliable e‑shops to provide comprehensive information for your shopping experience.

million users per month

thousand e‑shops on the platform

% platform growth rate

how to get listed on Heureka.sk

Translate your e‑shop to Slovak language

The main condition is to have a shop in the Slovak language. General business terms and conditions for retailers can be viewed here.

Register on our platform

You can register on our registration page (in Slovak) or contact us and we will process the registration for you. Prepare your XML feed as required in the XML feed specification.

Let us help you to use the maximum of our platform

We highly recommend purchasing of Trusted shop badge, especially for the new shops entering the market. It is important to show that you are a trustworthy shop. Do you want to maximize your sales? Join bidding and marketplace.

We can also offer custom data reports of the categories you are interested in. Just contact us below.

need a hand? contact us

Lenka Helisová

podpora@heureka.cz