Slovakia’s VAT Law Changes: New Rates and Registration Rules Starting 2025

• Starting January 1, 2025, there will be changes in the VAT law in Slovakia
• The standard VAT rate will increase from 20% to 23%
• Two reduced VAT rates will be introduced at 19% and 5%
• The 19% rate applies to food, electricity, and restaurant services with non-alcoholic beverages
• The 5% rate applies to selected food items including gluten-free products, medicines, medical supplies, books, certain services like accommodation, restaurant services with meals, online books, audio recordings, sports event entries, and gym entries
• The 5% rate also applies to goods and services related to social economy and registered social enterprises
• The 5% rate continues for construction or part of construction and renovation in state-supported rental housing projects
• New rules for VAT registration state that businesses reaching a turnover of 50,000 euros must register for VAT and will become VAT payers from January 1 of the following year
• If turnover exceeds 62,500 euros within a calendar year, the business immediately becomes a VAT payer and must register accordingly
• Special VAT exemption adjustments for small businesses with an annual turnover not exceeding 100,000 euros in the EU
• These small businesses can apply for the exemption in their country and, upon approval, can supply goods and services VAT-free in selected EU countries without needing to register for VAT there
• More information is available at the financial administration call center at 0484317222

Source: financnasprava.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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