Top eight changes in Slovak VAT Act approved by Parliament

The amendment should be effective from 1 July 2024, 1 January 2025, 1 July 2025 and 1 January 2026 (except for amendment of reporting obligation of providers of payment services which is proposed to be effective by its publishing) and brings:

• Introduction of special scheme for small enterprises,
• Changes in VAT registration and VAT deregistration of established as well as non-established taxable persons and in this respect also in deadlines for filing the VAT reports and issuance of invoices,
• Changes in late VAT registration as well as in related reporting,
• Introduction of reverse-charge mechanism upon importation of the goods (subject to further conditions),
• Changes in taxation of leasing agreements,
• Amendment of the place of supply of services in case of virtual events,
• Introduction of the possibility to claim input VAT deduction from Intra-Community acquisition of the goods also based on another document than an invoice,
• Decrease of the amount upon receipt of which a simplified invoice may be issued (from EUR 1,000 to EUR 400).

We will keep you informed on the next steps within the legislative process.