In Slovakia, the standard rate is 20 percent.
Some goods in Slovakia have a reduced rate of 10 percent. 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.
The new rules, which entered the EU on July 1, 2021, established a single threshold for VAT registration – 10,000 euros.
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.