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The new VAT law introduces stricter penalties for businesses that fail to comply with VAT regulations. These penalties are aimed at ensuring that all businesses take their VAT obligations seriously and avoid underreporting or avoiding their VAT liabilities.
These changes are aimed at making the VAT system fairer and more equitable for all businesses, regardless of their size or type of operations. The new VAT law is expected to bring a range of benefits for both businesses and the government. By simplifying VAT procedures and reducing compliance costs, the government hopes to encourage businesses to grow and create jobs while ensuring that the tax system remains robust and fair. You can find the new VAT law here.
Other news from Slovakia
Slovak Parliament Rejects Draft Law to Reduce VAT and Excise Duty on Fuel
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The Slovak parliament voted against two significant draft laws that aimed to temporarily reduce the rates of VAT and excise duty on gasoline and diesel fuel. These reductions were proposed to take effect from July 1, 2024, through December 31, 2025, but have now been dismissed. The first draft law proposed a reduction in the VAT rate on gasoline and diesel from the standard 20% to a significantly... Read more
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New document was uploaded: S4F backoffice patch
S4F backoffice patch is intended for users who have already installed S4F backoffice and are intended to update existing installations to latest version. To do so apply only patches that are marked with version number that is newer than your currently installed instance of backoffice. Please make sure to install all available patches sequentially (without skipping). For each patch it is specified for which countries it is released for and with this information and with information from release notes user should prioritize the installation of the patch if S4F Backoffice is used in specified countries. Even though the patch may be prioritized for specified countries please make sure to install all patches sequentially, including the previous ones (if any) even if they are not related to used countries. This package contains instruction, release notes, changelog and software packages required for deployment of this software component. Read more
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Validity of the fiscal printer certification in Slovakia
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In Slovakia, the sale and use of fiscal devices are restricted by the need to certify the device before being able to sell it. Only certified devices can legally be sold, whether the fiscal device producer is a Slovakian or a foreign company. Read more
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New Rules Arround VAT Registration Threshold in Slovakia
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Slovakia is set to align with the EU's revised legislative framework for SMEs by introducing significant changes to its VAT registration process, effective January 1, 2025. These changes will impact both domestic and foreign taxable persons, with a focus on registration thresholds and compliance duties. Key Changes for Domestic Taxable Persons: The mandatory VAT registration threshold is now se... Read more
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How to handle single-purpose vouchers on POS in Slovakia
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In Slovakia, handling single-purpose vouchers (JÚP in Slovakian) on point-of-sale (POS) systems requires adherence to specific rules to ensure proper accounting and tax reporting. Here’s a detailed guide on managing JP exchanges in compliance with Slovak legislation. Read more
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Overview of the e-invoicing reform in Slovakia
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The national e-invoicing system, known as eFaktúra, is currently under development and aligns with the European Commission's "VAT in the Digital Age" (ViDA) initiative. This initiative underscores Slovakia's commitment to streamlining financial processes and enhancing compliance across the EU. Current Developments and Future Plans: National eFaktúra System: The implementation of Slovakia... Read more
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Slovakia's Fuel for Thought: A draft bill to drive down VAT on fuel
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Slovakia's parliament is reviewing a draft bill to reduce the VAT for gasoline and diesel from 20% to 8%. If approved, this decrease would apply from July 1, 2024, to December 31, 2025, offering economic relief and more affordable transportation for Slovak citizens. This temporary measure could significantly lower costs for drivers across the country. Read more
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