- Slovakia’s Prime Minister Robert Fico reversed opposition to tax hikes by amending VAT laws
- VAT rate increased from 20% to 23%, putting Slovakia close to EU’s highest standard VAT rate
- Preferential VAT rate for essential goods also increased from 10% to 19%
- Concessions for small businesses introduced, including special VAT ID for those below certain turnovers
- New VAT rules for online entertainment services and reverse charge mechanism for goods imports
- Fico justified VAT hike due to Slovakia’s difficult financial situation
- Opposition criticizes VAT hike, saying it will lead to dramatic price increases for citizens
Source: centraleuropeantimes.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.
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