VATupdate

VAT Talks – Branislav Kováč (a.o. about Slovakia’s decreasing VAT gap)

In this episode of VAT Talks we speak with Branislav Kovac. Branislav is a tax partner at VGD Slovakia, a Bratislava based advisory company. In the following Branislav will explain how Slovakia achieved to significantly decrease the VAT gap during the last few years. Nevertheless, he also points out that the VAT gap is still at 20%. Therefore, the Slovak government is planning to implement real-time reporting. Branislav argues that real-time reporting is a valuable tool to further reduce the VAT gap but it should not come with additional burdens for businesses. While addressing the issue of data protection, Branislav states that “disclosing any kind of unit prices or quantities on invoices should be out of discussion”. Lastly, we discuss why people should get more excited about VAT, for which we dig into the importance of a fair VAT system.

Source: summitto.com

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