- The Slovak Republic’s Ministry of Finance has proposed changes to the VAT act, with different effective dates ranging from March 2024 to January 2025.
- The changes include increasing the turnover threshold to EUR 50,000 for taxable persons, who would be required to apply for registration within five days of reaching this threshold.
- Foreign taxable persons conducting taxable transactions in Slovakia would also be required to register without delay. The Tax Office would issue a decision on registration within 10 days and assign a VAT number immediately upon receiving an application. The highlighted changes would take effect from 1 July 2024, except for provisions related to small businesses, which are proposed to take effect from 1 January 2025.
Source PwC
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