On 19 December 2023, the National Council of theSlovak Republic approved an amendment to the Value Added Tax Act (Act No. 315/2023 Coll.), in order to improve the state of public finances. Below are the main changes:
Changes effective from 1 January 2024:
•The reduced VAT rate of 10% will no longer apply to the serving of alcoholic beverages in the context of the provision of restaurant and catering services.
•The reduced VAT rate of 10% will no longer apply to the serving of alcoholic beverages in the context of the provision of restaurant and catering services.
Changes effective from 1 March 2024 in connection with the amendment to the Act on Transformations of Business Companies:
•tax registration obligation of a domestic person–successor company in the event of a company division by spin–off or cross–border spin–off;
•registration obligation of a foreign person in the event of a dissolution without liquidation, a company division by spin–off or cross–border spin–off;
•specifying and supplementing the rules on the sale of a business;
•specification of the notification obligation for a taxpayer, that has been divided by spin–off or cross–border spin–off, on the VAT relating to the adjustment of the tax deducted on the transfer of investment assets; tax liability in the last tax period on the termination of the taxpayer without liquidation.
•tax registration obligation of a domestic person–successor company in the event of a company division by spin–off or cross–border spin–off;
•registration obligation of a foreign person in the event of a dissolution without liquidation, a company division by spin–off or cross–border spin–off;
•specifying and supplementing the rules on the sale of a business;
•specification of the notification obligation for a taxpayer, that has been divided by spin–off or cross–border spin–off, on the VAT relating to the adjustment of the tax deducted on the transfer of investment assets; tax liability in the last tax period on the termination of the taxpayer without liquidation.
Source TPA
