Transaction Tax – Important Change in Payment Services Provision from April 1, 2025

We would like to inform you that as of April 1, 2025, our payment services will be divided into Payout Payment Account (PÚP) and Payout Gateway. This change is in response to the effective date of Act No. 279/2024 Coll. on Financial Transaction Tax, which introduces a tax on selected payment transactions.

Why are services being divided?

New legislation clearly divides individual payment services and their tax burden. In order to maintain transparency and enable you to plan your financial operations effectively, we are dividing services into a payment gateway (not subject to tax) and a payment account (subject to tax).

What is a payment gateway and how does it work?

A payment gateway is a technology that enables fast and secure online payments from your customers. It allows merchants to accept payments via:

• Payment cards (VISA, Mastercard)
• Bank buttons (instant online payments via internet banking)
• Bank transfers (standard transfers from the customer's bank account)

In addition to accepting payments, the payment gateway also handles:

• Payment refunds – in the event of order cancellation or complaints
• Chargebacks – situations where the customer disputes the payment with their bank
• Balance payments (withdrawals) – transfer of received payments to your bank account

Important information:
Transactions made through the payment gateway will not be subject to financial transaction tax, as they do not meet the definition of a financial transaction under the new law.

Why are transactions through the payment gateway exempt from tax?

According to the Financial Transaction Tax Act, only transactions that fall under the definition of a financial transaction are subject to this tax. According to Act No. 279/2024 Coll., a financial transaction is understood to be a payment service provided by a payment service provider within the scope specified in Section 2(1)(b) to (d) of the Payment Services Act.

However, a payment gateway is a payment service defined in Section 2(1)(e) of the Payment Services Act, i.e. a service that enables the receipt of payments from third parties. Since a payment gateway is not used to execute transfers at the client's request, but to process payments received from customers, the law does not consider it a financial transaction and therefore it is not subject to financial transaction tax.

A payment gateway also includes operations such as:

• Balance payment (withdrawal) – transfer of funds from the payment gateway to the client's pre-agreed bank account. As this is a payment gateway transaction, it is not subject to financial transaction tax.
• Refunds and chargebacks – refunding money to customers when an order is canceled or a complaint is made. These transactions are also exempt from tax under Section 4(2)(b) of the Financial Transaction Tax Act, according to which the tax does not apply to transactions related to refunds from the original payment transaction.

What transactions will be subject to tax?

Conversely, the financial transaction tax will apply to operations performed from a payment account held with Payout, such as:

• Invoice payments
• Salary payments
• Other payments (payouts) based on your transfer order

Payout will be required to calculate and pay financial transaction tax on these transactions in accordance with the new law.

Exemption of payment accounts from financial transaction tax

If your Payout payment account meets the conditions for exemption from financial transaction tax under Act No. 279/2024 Coll., you can notify us of this fact. From the day following receipt of your notification, we will not calculate or pay financial transaction tax on this account.