Fiscal subject related
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.
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