- Slovakia’s Parliament has approved an increase in the standard VAT rate from 20% to 23% starting January 1, 2025
- Additional tax changes include the introduction of a financial transaction tax on bank transfers, card payments, and cash withdrawals
- Foreign businesses without a registered office in Slovakia will be required to register for VAT if they perform taxable transactions in the country
- Small enterprises with a permanent establishment in the EU can opt out of VAT registration if they possess a Slovak VAT identification number ending with “EX”
- The legislation is awaiting the president’s signature to become law.
Source: globalvatcompliance.com
Click on the logo to visit the website
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.
