The amendment introduces a temporary reduction in the VAT rate (from 20% to 10%) for transport of persons by cable cars and ski lifts, admission to sports facilities for sports activities and swimming pools, and restaurant and catering services. This amendment is to enter into force on 1 January 2023 and be applicable until 31 March 2023. Furthermore, the new reporting obligation for payment service providers will apply from 1 January 2024.
Furthermore, the amendment, which is to come into force from 1 January 2023, brings the following significant changes:
- The obligation of VAT payers to correct input tax deducted from goods and services purchased in Slovakia if they are (partially) more than 100 days late,
- Changes in the correction of the taxable amount in the event of full or partial non-payment of the consideration for the supply of goods or services and the related obligation to adjust the input tax deduction,
- The abolition of the obligation to register for VAT (and the introduction of the possibility to deregister from VAT registration) for established businesses, provided that they derive the registration turnover exclusively from certain services exempt from VAT (insurance and financial services as well as the supply and rental of real estate).
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