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Top seven 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 the following major changes.

Proposed amendment is planned to be effective from 1 July 2024 and 1 January 2025 (except for amendment of reporting obligation of providers of payment services which is proposed to be effective from 31 March 2024) 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),
  • 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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