The Slovak Republic’s tax authority has released guidance on new VAT rates for energy supplies, effective from 1 January 2025.
Under the guidance, the standard VAT rate will rise from 20% to 23%, and the reduced rate (including electricity) will increase from 10% to 19%.
This follows after the Slovak Republic government enacted a bill on 18 October 2024 to improve the state’s public finances by amending several tax measures, which include increasing the corporate tax rate to 24% and the standard VAT rate to 23% and 19% for food items and electricity.
