Changes to VAT Law in Slovakia: New Rates and Regulations Effective 2025

• The Financial Directorate of the Slovak Republic issued information regarding amendments to the VAT law under Act No. 278/2024
• The National Council of the Slovak Republic approved these changes on October 3, 2024, as part of a consolidation package aimed at improving public finances
• The amendments affect the VAT Act No. 222/2004 and other laws, with changes officially announced on October 25, 2024
• Specific adjustments in Article VII of Act No. 278/2024 modify Section 27 of the VAT Act, adjusting VAT rates and related appendices for goods and services with reduced VAT rates
• These changes are set to take effect from January 1, 2025
• The basic VAT rate for goods and services will increase from 20 percent to 23 percent
• A new reduced VAT rate of 19 percent will apply to certain goods and services, including electricity and all food items listed in Appendix 7, and services related to beverage serving in dining establishments excluding alcoholic drinks over 0.5 percent alcohol by volume
• Another reduced VAT rate of 5 percent will be introduced for goods and services provided by registered social enterprises using 100 percent of their post-tax profits to achieve their main goals, and for construction related to state-supported rental housing
• Transitional provisions and procedures for tax base corrections and deducted tax adjustments are also included in the amendments

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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