- Slovakia’s Parliament has approved an increase in the standard VAT rate from 20% to 23% starting January 1, 2025
- Additional tax changes include the introduction of a financial transaction tax on bank transfers, card payments, and cash withdrawals
- Foreign businesses without a registered office in Slovakia will be required to register for VAT if they perform taxable transactions in the country
- Small enterprises with a permanent establishment in the EU can opt out of VAT registration if they possess a Slovak VAT identification number ending with “EX”
- The legislation is awaiting the president’s signature to become law.
Source: globalvatcompliance.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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