Taxes
14 July 2020

Three major changes brought by draft amendment to the Slovak VAT Act

The Slovak Ministry of Finance introduced a draft amendment to the Slovak VAT Act bringing three major changes which are proposed to be effective from 1 January 2021 (except for the deadline for registration for special schemes which is proposed to be effective from 1 October 2020):

Zuzana Šidlová

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The Slovak Ministry of Finance introduced a draft amendment to the Slovak VAT Act bringing three major changes which are proposed to be effective from 1 January 2021 (except for the deadline for registration for special schemes which is proposed to be effective from 1 October 2020):

  • Introduction of new rules for taxation of cross-border supplies of goods (distance dales) and services supplied to persons other than taxable persons that include i. a.:
    • Cancellation of VAT exemption upon importation of consignments not exceeding the amount of EUR 22,
    • Extension of use of the OSS – One Stop Shop,
    • Introduction of IOSS (Import One Stop Shop) for imported goods up to a value of EUR 150 and a simplification mechanism where the IOSS is not used,
  • Introduction of correction of tax base upon total or partial non-payment of consideration for supply of goods or services (subject to stipulated conditions) and related obligation to correct input VAT deducted,
  • Extension of the options to prove the export of the goods outside the EU.

We will keep you informed on the next steps within the legislative process.

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