FISCAL SOLUTIONS...
News
Public Slovakia Author: Kristina Dosen
Following changes to the VAT law, Slovakia has implemented a new reduced VAT rate of 10%, effective January 1, 2023, to support the country's tourism and catering sectors. The reduced VAT rate will apply to the transportation of persons via cable cars and ski lifts, access to indoor and outdoor sports facilities, access to swimming pools, and certain restaurant and catering services. More details are as follows.
Category:

Fiscal subject related

Views: 532
Content accuracy validation date: 16.03.2023
Content accuracy validation time: 14:14h

Content

The new reduced VAT rate is expected to provide relief to the tourism and catering sectors, which have been severely impacted by the COVID-19 pandemic. The Slovakian government hopes that the reduced VAT rate will encourage more people to participate in leisure activities and patronize restaurants and catering services.

The reduced VAT rate will apply to cable car and ski lift services, which are essential to the country's winter tourism industry. With the reduced VAT rate, ski resorts and other winter sports destinations will be able to offer their services at more affordable rates, making them more accessible to local and foreign tourists.

In addition to winter sports facilities, the reduced VAT rate will also apply to access to indoor and outdoor sports facilities and swimming pools. This will provide much-needed relief to fitness centers, gyms, and swimming pool operators, which have been struggling due to the pandemic-related closures and restrictions.

The reduced VAT rate will also apply to certain restaurant and catering services, such as the sale of hot and cold food and non-alcoholic beverages for consumption on the premises or for takeaway. This will benefit the country's restaurant and catering industries, which have been hard hit by pandemic-related restrictions and closures.

The reduced VAT rate is expected to have a positive impact on the country's economy by providing support to the tourism and catering sectors. It is hoped that the measure will encourage more people to travel and engage in leisure activities, thus contributing to the recovery of the country's tourism industry.

 

Other news from Slovakia