- The Slovakian Ministry of Finance has proposed a 2% increase in the standard Value Added Tax (VAT) rate.
- The proposal aims to raise the VAT rate from 20% to 22%.
- The Ministry argues that Slovakia’s current VAT rate is lower than the EU average and surrounding EU member states.
- The proposal does not yet have the approval of the newly elected parliament and will be considered later this year.
- Talks to form a coalition government are still ongoing.
- If accepted, the proposed VAT rate increase would not be implemented until 2024.
Source: vatcalc.com
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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.
