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Top eight changes in Slovak VAT Act approved by Parliament

The Slovak Parliament approved amendment to the Slovak VAT Act bringing the following major changes.

The amendment should be effective from 1 July 2024, 1 January 2025, 1 July 2025 and 1 January 2026 (except for amendment of reporting obligation of providers of payment services which is proposed to be effective by its publishing) and brings:

  • Introduction of special scheme for small enterprises,
  • Changes in VAT registration and VAT deregistration of established as well as non-established taxable persons and in this respect also in deadlines for filing the VAT reports and issuance of invoices,
  • Changes in late VAT registration as well as in related reporting,
  • Introduction of reverse-charge mechanism upon importation of the goods (subject to further conditions),
  • Changes in taxation of leasing agreements,
  • Amendment of the place of supply of services in case of virtual events,
  • Introduction of the possibility to claim input VAT deduction from Intra-Community acquisition of the goods also based on another document than an invoice,
  • Decrease of the amount upon receipt of which a simplified invoice may be issued (from EUR 1,000 to EUR 400).

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

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