Slovakia Implements VAT Rate Increase and Changes to Reduced Rates Effective 2025

• Slovakia is increasing its standard VAT rate from 20% to 23% effective 1 January 2025
• The reduced VAT rate of 10% will be abolished and replaced with a new reduced rate of 19%
• The second reduced VAT rate of 5% will remain in place
• The new reduced tax rates will apply to goods and services such as basic foodstuffs, medicines, medical devices, hotel services, books, fitness centers, sports events, rental housing, and more
• Corrections for supplies that straddle the change in rate will be based on the VAT rate applicable at the time of the tax liability

Source: globaltaxnews.ey.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.

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