- New VAT rules for small businesses in the EU effective from 2025
- Slovakia required to implement EU Directive 2020/285 to harmonize VAT rules for small businesses
- Aim to reduce administrative burden and compliance costs for small businesses
- Improve competitiveness of small businesses in the EU market
- Slovak VAT law updated to include definitions and exemptions for small businesses
- Two special VAT exemptions introduced for small businesses
- Exemption for foreign small businesses
- Exemption for domestic small businesses in other EU states
- Definitions of annual turnover for VAT purposes in Slovakia and the EU
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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