Slovakia Tax Agency Issues Guidance on Changes in Application of VAT Rate for 2025

The Slovak Financial Administration Nov. 29 issued Guide No. 8/DPH/2024/IM, on changes in the application of the VAT rate from Jan. 1, 2025. The guidance includes: 1) an increase in the basic VAT rate to 23 percent from 20 percent; 2) the removal of the 10 percent reduced VAT rate, the establishment of a new 19 percent reduced VAT rate, and an application extension of the 5 percent reduced VAT rate; 3) that when amending the VAT rate, the VAT rate valid on the date of the tax liability must be used for each occurrence of the tax liability; 4) ...