Standard VAT rate
The standard VAT rate in Slovakia in 2023 is 20%.
Some goods in Slovakia have a reduced rate of 10%. Such products, for example, include fresh or chilled meat, live fish, fresh or chilled fish, milk, butter, bread, printed books, brochures, leaflets, and similar printed products.
Building handover, building renovation, and reconstruction have a reduced rate of 5%.
Threshold
The new rules, which entered the EU on July 1, 2021, established a single threshold for VAT registration – €10,000.
Deductible VAT
The payer of the tax in accordance with the VAT Law can deduct:
- Tax applied by a taxpayer in respect of goods and services for which a person is obliged to pay tax in accordance with the VAT Law;
- Tax applied by a taxpayer for the purchase of goods from another member state in accordance with the VAT Law;
- Tax paid in the country by the tax administrator (customs authority) when importing goods from third countries.
Registration procedure
Foreign organizations submit an application for registration (only in Slovak) to the Tax Inspectorate of Bratislava, which registers them within seven days of receiving the application. The applications are attached:
- Extract from the commercial register, with an official translation into Slovak;
- If the application is submitted through an agent, then a power of attorney must be attached to the application, accompanied by an official translation into Slovak.
Tax representative
Companies registered outside the EU are required to appoint a tax representative.
VAT returns filing and VAT payment date
For some cases, quarterly submission of tax returns may be scheduled, but as a rule, reports must be submitted monthly. The periodic VAT declaration must be submitted electronically before the 25th day of the month following the tax period to which it relates.
VAT must also be paid by the 25th of the month.
Penalty
Late Filing:
- €30 to €16,000 fines for failure to submit or late submission.
Failure to register:
- €60 to €20,000 fines. Interest is charged in addition.
Late filing or incorrect ESL:
- €60-€3,000.