Methodical Instructions for Special Arrangements for Small Businesses

• The Slovak Republic issued a methodological instruction for special adjustments for small businesses according to sections 68e to 68g of the Value Added Tax Act.
• The instruction aims to reduce the administrative burden and compliance costs for small businesses.
• The new legal regulation allows small businesses to benefit from tax exemption in other EU member states under certain conditions.
• The annual turnover limit for tax exemption in the EU is 100,000 EUR without VAT.
• The previous legal regulation only allowed tax exemption for small businesses operating within the member state where the taxable supply was subject to tax.
• The new regulation harmonizes the rules for small businesses across the EU.

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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