- Slovak Republic government proposing changes to VAT law to reduce VAT Gap
- Anti-fraud measures implemented to close the gap
- Control Statement transaction reporting and domestic reverse charge introduced in 2014
- VAT Gap reduced from 28% to 11% by 2021
- Proposed changes include VAT Deductions and Investment Property treatment
- Current legislation does not account for all situations requiring correction of deducted tax
- Definition of “investment property” in VAT Act not clear and needs to be revised to meet EU requirements
Source: vatcalc.com
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.
