Slovakia Floats Revised Sales Reporting to Counter Tax Evasion

Slovakia is seeking feedback on a draft proposal to tighten tax collection by revising rules for electronic registration and reporting of cash or cash-equivalent sales.

Vendors would be required to accept cashless payments for sales exceeding 1 euro ($1.16) and be subject to new sanctions for non-compliance, under a proposal announced Wednesday by the country’s finance ministry.

• Exceptions from the obligation to electronically register and report sales would be eliminated, according to the proposal.
• The proposed changes — along with other anti-tax avoidance measures, such as planned mandatory electronic invoicing for business-to-business transactions — could boost annual budget ...