Enjoy your entire profit
At Finax, we use available tax reliefs to our advantage. On the other hand, with mutual funds, life insurance, bonds, or time deposits, you must pay taxes, which reduce your profit by 19%.
The above information applies to tax residents of the Slovak Republic. The tax regime depends on each client’s individual situation and may change in the future.
We make use of all available tax reliefs
Tax considerations
We take the stress out of tax season. Finax provides you with all the necessary documents, statements, and overview data you need to easily fulfill your local tax obligations.
Saving time
Finax provides clients with access to account information and documentation through its platform to support record-keeping and tax reporting where required.
Age-Based Tax Relief
For the European Pension (PEPP), personal contributions may qualify for income tax relief in Ireland, subject to the applicable age-related percentage limits and an earnings cap of €115,000, in accordance with Irish pension tax rules and Revenue guidance. The availability and value of tax relief depend on the individual’s personal circumstancesWe take advantage of every opportunity
Investment portfolios may include UCITS exchange-traded funds (ETFs) that reinvest dividends. The tax treatment of such investments depends on the applicable Irish tax rules.
Finax periodically rebalances portfolios to maintain the selected investment strategy and risk profile.
We’ll advise you how to terminate an investment or part of it and avoid paying taxes. When selling, we will sell the ETFs you have held the longest and provide you with a summary of profits for tax purposes.
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Frequently asked questions about taxes
Finax invests your funds in globally diversified ETF portfolios. Returns on these investments are subject to Irish tax. For most Irish-domiciled and EU-domiciled ETFs, gains and dividends are liable to exit tax, currently 38%, and a "deemed disposal" applies every eight years, meaning tax can fall due on your gains even if you have not sold. There is no annual exemption against this tax, and it is generally self-assessed.
Finax provides the account information and documentation you need to meet these obligations, but you remain responsible for reporting and paying the tax due. This treatment applies where you are tax resident in Ireland. If you are tax resident in another country, please check how your investment may be taxed there.
If you are investing for retirement via Pan-European Personal Pension Product (PEPP), contributions to a PEPP can qualify for income tax relief, subject to age-related limits and an earnings cap, and your investment grows free of tax inside the fund. Withdrawals are taxed as income when you draw down, though part of the fund may be taken as a tax-free lump sum. The rules and limits differ from those for a basic portfolio, and eligibility depends on your circumstances.
Finax does not provide tax advice. You should consider obtaining independent professional advice where appropriate.
This applies depending on your country of tax residence. If you pay tax in another country, please check the possible tax aspects of your investment in that specific country.
Finax provides the account information and documentation you need to meet these obligations, but you remain responsible for reporting and paying the tax due. This treatment applies where you are tax resident in Ireland. If you are tax resident in another country, please check how your investment may be taxed there.
If you are investing for retirement via Pan-European Personal Pension Product (PEPP), contributions to a PEPP can qualify for income tax relief, subject to age-related limits and an earnings cap, and your investment grows free of tax inside the fund. Withdrawals are taxed as income when you draw down, though part of the fund may be taken as a tax-free lump sum. The rules and limits differ from those for a basic portfolio, and eligibility depends on your circumstances.
Finax does not provide tax advice. You should consider obtaining independent professional advice where appropriate.
This applies depending on your country of tax residence. If you pay tax in another country, please check the possible tax aspects of your investment in that specific country.
When managing your assets, we use a combination of tax advantages available under the applicable legislation. Our portfolios are made up solely of ETF funds, which may benefit from favourable tax treatment once the relevant legal conditions are met. We also adapt purchases and sales during rebalancing to this.
Tax treatment depends on your country of tax residence. If you pay tax in another country, please check the possible tax aspects of your investment in that specific country.
Tax treatment depends on your country of tax residence. If you pay tax in another country, please check the possible tax aspects of your investment in that specific country.
Returns from standard mutual funds are often taxed when they are sold, which can reduce your net profit compared with investing in ETFs.
Example: You invest 10,000 euros in mutual funds and another 10,000 euros in ETFs traded on the stock exchange. Assume both investments grow by 8% p.a. over the next 10 years, so each is worth 21,600 euros at the end – a profit of 11,600 euros. Depending on the tax treatment applicable in your country of residence, the mutual fund gain may be reduced by tax, whereas ETFs may benefit from more favourable tax treatment once the relevant conditions are met.
Tax treatment depends on your country of tax residence. If you pay tax in another country, please check the possible tax aspects of your investment in that specific country.
Example: You invest 10,000 euros in mutual funds and another 10,000 euros in ETFs traded on the stock exchange. Assume both investments grow by 8% p.a. over the next 10 years, so each is worth 21,600 euros at the end – a profit of 11,600 euros. Depending on the tax treatment applicable in your country of residence, the mutual fund gain may be reduced by tax, whereas ETFs may benefit from more favourable tax treatment once the relevant conditions are met.
Tax treatment depends on your country of tax residence. If you pay tax in another country, please check the possible tax aspects of your investment in that specific country.
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