- Slovakia has joined Hungary in implementing a 5 percent VAT rate on hotels
- The initial proposal was for a 23 percent VAT rate
- The reduced VAT rate will also apply to restaurants, fitness centers, and sporting events
- The lower VAT rate is expected to help preserve jobs and increase revenues for regional municipalities
- The negotiations for the reduced VAT rate were described as difficult
- Hotel owners believe that a 23 percent VAT rate would have a negative impact on the tourism sector
- Hoteliers are calling for uniform VAT rates across different categories
Source: spectator.sme.sk
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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