- From January 1, 2025, the standard VAT rate will increase from 20% to 23%.
- There will also be two reduced VAT rates: one at 19% and another at 5%.
- The changes are part of a legislative package aimed at improving public finances.
- The applicable VAT rate is determined by the date the tax obligation arises.
- For goods and services with a tax obligation arising in 2024, the 20% rate applies; for those in 2025, the 23% rate applies.
- The tax obligation for the delivery of goods or services is generally established on the delivery date.
- An example illustrates that if goods are delivered on December 30, 2024, but invoiced on January 3, 2025, the 20% rate applies since the tax obligation arose in 2024.
Source: podnikajte.sk
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.
