Slovakia Gazettes Law Amending VAT Act

The Slovak Official Gazette May 17 published Law No. 102/2024, amending Act No. 222/2004 on VAT. The law includes measures: 1) exempting specified small businesses established in Slovakia from VAT if their annual turnover doesn’t exceed 50,000 euros (US$54,276) in the previous year or 62,500 euros (US$67,845) in the current year; 2) exempting specified small businesses established in other EU member states from VAT if their annual EU turnover doesn’t exceed 100,000 euros (US$108,553); 3) setting procedures and requirements for VAT registration and cancellations; 4) providing a transitional provision for the application of self-taxation on the import of goods; and ...