Slovakia Parliament Considers Bill to Amend VAT Registration Provisions

The Slovak Parliament (Narodna Rada) Nov. 14 accepted for consideration Bill No. 38, to amend VAT registration provisions. The bill includes measures to: 1) increase the turnover threshold for compulsory VAT registration to 75,000 euros (US$81,419) from 49,790 euros (US$54,051), effective July 1, 2024; 2) establish transitional provisions on the cancellation of VAT registration; 3) establish transitional provisions allowing voluntary VAT registration for taxpayers with turnover exceeding the prior threshold, if they provide written notice to the tax authority by July 15, 2024; 4) establish transitional provisions allowing taxpayers to avoid penalties for failure to register for VAT if their ...