As we have already informed you in previous issues of our newsletter, the Ministry of Finance of the Slovak Republic, together with the financial administration, is working to introduce a unified process of electronic circulation of invoices through the so-called electronic invoicing information system (“IS EFA”). In practice, it will be a system of sending data from issued and received invoices to the financial administration portal, which should help reduce the administrative burden for entrepreneurs, gradually abolish the VAT control report and also simplify the completion of tax returns.
Source TPA-group
