Slovak Republic: VAT changes approved

16 July, 2014

The parliament of Slovak Republic has accepted some changes to the VAT Act:

VAT rate increase to 20% and will be established for the long term
The submission deadline for the recapitulative filings is from 20 days to 25 days.
If annual sales of companies are below EUR50,000 per annum they may switch to quarterly recapitulative reporting
In accordance with the EU changes, changes occur in the field of supply for the 2015 B2C broadcast, telecoms and electronic services and from the 1^st January, such services will be taxable in consumer’s location instead of provider’s location.
The online portal creation will allow the companies to notice the VAT levied and collected for each country via the single way.

Slovak Republic

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