- Slovakia announces changes to VAT rules for restaurants and small businesses in 2024
- Alcoholic beverages will no longer be eligible for the reduced VAT rate of 10%
- Alcoholic beverages will be subject to the standard VAT rate of 20%
- VAT registration threshold will be increased from EUR 49,790 to EUR 100,000 in 2024
- Small businesses with a turnover of less than EUR 100,000 will not have to register for VAT and charge VAT to their customers
- This will reduce administrative burden and compliance costs for small businesses
- It will encourage more entrepreneurs to enter the market.
Source: fiscal-requirements.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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