Slovakia is updating its VAT registration process for businesses starting January 1st, 2025. The key changes are:
- Increased registration threshold: €49,790 (previous year) or €62,500 (current year) to €50,000 per year.
- Turnover calculation based on the calendar year instead of 12 consecutive months.
- Faster registration: Apply within 5 working days of exceeding the threshold.
- Foreign businesses: No threshold, register within 5 days of making a taxable supply.
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
