Paying Taxes, Banking & Changing Money in the Czech Republic and Slovakia

If you work legally in the Czech Republic or Slovakia, taxes should be deducted automatically from your pay by your employer much in the same way that you would have taxes withheld from your paycheck in the United States. In other words, if you possess a work permit, you are required to pay tax on the money you earn. Be sure that you know what your employer is withholding from your pay and where it is going.

It’s not uncommon for some employers to shirk their fiscal responsibilities in order to keep a little more money for themselves.

Even though you reside outside of the U.S., you’re still required to file a tax return with the IRS when you work overseas. Forgetting to do so can cause you untold trouble down the road when you have to explain where you were, what you were doing, and be able to prove that you didn’t make enough money to pay United States income taxes. Since you don’t have to pay tax until you make more than US$70,000, most younger expats who work in Eastern Europe won’t have to worry about forking out any money to Uncle Sam.

Most Czech and Slovak banks will perform simple services such as foreign currency exchange, cash advances, and the like. You can also set up both crown and hard currency accounts.

Here is a list of banks in Prague and Bratislava:

Prague

American Express
Vaclavske namesti 56
Prague
Czech Republic
Phone: (02) 421-5397 or (02) 422-7786

American Express
Hybernska 38
Prague
Czech Republic
Phone: (02) 421-9992 or (02) 421-9978

Ceska obchodni banka
Na prikope 14
Prague
Czech Republic
Phone: (02) 411-1111

Komercni banka
Na prikope 28
Prague
Czech Republic

Thomas Cook
Vaclavske namesti 47
Prague
Czech Republic
Phone: (02) 422-8658 or (02) 422-9537

Vseobecna uverova banka
Celetna 31
Prague
Czech Republic
Phone: (02) 422-0891

Zivnostenska banka
Na prikope 20
Prague
Czech Republic
Phone: (02) 412-1111 or (02) 112-1111
Fax: (02) 41 56 55

Bratislava

Vseobecna uverova banka
Danubeska 24
Bratislava
Slovakia

Useobecna uverova banka
Namestie SNP 19
Bratislava
Slovakia

Slovenska spritelna
Venturska 18
Bratislava
Slovakia

Tatratour (local American Express agent)
Frantiskanske namestie 3
Bratislava
Slovakia

ATMs

For information on ATM locations in Prague, call Cirrus/Mastercard (more common) at (800) 424-7787, or Plus Network (800) 843-7587. ATMs are located all around the city, including the airport, train station, metro stations and at most major banks.