Slovakia’s New VAT Rate Changes Effective January 2025: Key Points from Guide No. 8

• The Slovak Financial Administration issued Guide No. 8/DPH/2024/IM on November 29
• The guide details changes in VAT rates effective from January 1, 2025
• Basic VAT rate will increase from 20 percent to 23 percent
• The 10 percent reduced VAT rate will be removed and replaced with a new 19 percent reduced rate
• The 5 percent reduced VAT rate will have an extended application
• VAT rate changes must use the rate valid on the date the tax liability occurs
• Tax liabilities are triggered on the delivery date of goods or services and on receipt of advance payments
• The acquisition of goods from another member state is covered under Section 20 of the VAT Act
• The guide also provides answers to relevant tax-related questions

Source: news.bloombergtax.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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