Slovakia Implements VAT Law Amendments, including Import VAT deferment

• Introduction of special scheme for small businesses with national thresholds for turnover
• Introduction of reverse charge system for import VAT from July 2024
• Transposition of amending directive for place of supply of services for certain activities supplied electronically
• Reclassification of leasing contracts with exercise of purchase option as deliveries of goods
• Foreign taxable person without permanent establishment in Slovakia becomes taxpayer by carrying out taxable transaction
• Late VAT registration requires submission of individual tax returns and control statements
• Obligation to refund VAT deducted on theft extended to all fraudulent acquisitions
• Measures to be implemented around July 2024, except for special regime for small businesses in January 2025
• Increase in standard rate of VAT from 20% to 22%
• Abolition of reduced VAT rate on certain goods and services

Source: asd-int.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.

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