Changes in the VAT act 2019
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Changes in the VAT act 2019
The amendment proposes several substantial changes, which should take effect from 1 January 2019. Check it.
The National Council of the Slovak Republic approved on 23.10.2018 the Amendment to the VAT Act by which a reduced VAT rate of 10% for accommodation services was introduced.
The Slovak Government has already approved some other changes. After their final approval by the NCSR the Amendment to VAT Act should become effective from 1.1.2019.
The Amendment to the VAT Act is focused on areas which were needed to be harmonized in the VAT area with directives of the European Parliament and European Council, such as the rules for VAT treatment of vouchers or provision of services and distance sale. The Amendment introduced also new rules in the area of taxation of sale and rental of immovable property with the aim to prevent the abuse of VAT deduction.
Below we summarize the most significant changes.
Should you have any questions with respect to the changes or should you require our assistance to assess the impact of the changes on your company, do not hesitate to contact us.
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