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Companies are required to charge the correct VAT rates on their Slovakian transactions, and will be held liable for any errors or omissions. Whilst the EU sets the framework for the rates, the Slovak Republic still determines the actual rates – although the higher, standard rate must be above 15%.
The current rates are:
Slovakia VAT rates | ||
Rate | Type | Which goods or services |
20% | Standard | All other taxable goods and services |
10% | Reduced | Some foodstuffs; some pharmaceutical products; some medical equipment for disabled persons; books (excluding e-books); hotel and accommodation |
0% | Zero | Intra-community and international passenger transport |
When providing local supplies under a Slovakian VAT number, companies are required to follow local accounting and tax rate rules. These include:
Following the full information requirements for invoices under the Slovakian VAT Act.
The tax point (time of supply) rules in Slovak Republic determine when the VAT is due. It is then payable to the tax authorities 15 days after the VAT reporting period end (monthly or quarterly).
For most goods, it is the time of delivery or passage of title. For services, it is the completion of the service.
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