The Ministry of Finance of the Slovak Republic released a draft amendment to the Slovak VAT act for comments. Below, we summarize the main areas covered by the amendment. Different parts of the amendment have different effective dates from March 2024 to January 2025. The highlighted changes are set to take effect from 1 July 2024, except for the provisions related to small businesses, which are proposed to take effect from 1 January 2025.
Registration of a domestic person according to § 4
According to the proposed changes, a taxable person will become a payer from the day the turnover threshold is reached. The turnover threshold is increased to EUR 50,000 in a given calendar year. Entrepreneurs would be obliged to apply for registration within 5 days from the day a reason for registration arises. The Tax Office will issue a decision on registration within 10 days, and will be obliged to confirm the registration of the payer on the day the reason occurred.
The conditions of voluntary registration would remain unchanged.
Registration of a foreign person according to § 5
A foreign taxable person without a registered office or establishment in Slovakia would become a taxpayer by conducting a taxable transaction subject to tax in Slovakia (except for certain transactions specified in the law). A registration application would have to be submitted without delay from the day the foreign person became a payer. The tax office is obliged to register a foreign person and assign him a VAT number immediately after receiving the application.
