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.

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