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Slovakia plans to raise the standard VAT rate to 22% in 2024
Summary
Did you know that the Slovakian government has proposed an increase in the standard VAT rate from 20% to 22%, trying to combat the public deficit and debt in the wake of the worldwide recession?
Content
In line with Estonia, Slovakia is proposing to increase the standard VAT rate from 20% to 22%, arguing that the current 20% VAT rate is lower than the EU average and that the 2% increase is therefore justified.
The VAT increase is yet to be approved by the newly elected Parliament and is expected to take effect sometime in 2024.
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