- Significant changes in VAT registration laws effective from January 1, 2025
- New rules impact both domestic and foreign taxable entities regarding VAT registration thresholds and turnover tracking
- Thresholds for mandatory VAT registration set at 50,000 euros and 62,500 euros, replacing the previous threshold of 49,790 euros
- Voluntary VAT registration options remain before and after reaching the 50,000 euro turnover, up to 62,500 euros
- Turnover for VAT registration purposes will now be tracked annually from January 1 to December 31, starting anew each year
- Quality accounting software from KROS company can assist with tracking turnover and managing VAT-related duties
- Detailed guidance on applying the new VAT registration rules available in the article Registration for VAT from 2025 with practical examples
- Crossing the VAT turnover threshold at the end of 2024 requires registration from the start of 2025
Source: podnikajte.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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