Slovakia VAT Services

VAT registration in Slovakia

VAT registration in Slovakia, if you are conducting business activities in Slovakia and meet certain criteria. You may be required to register for VAT and make regular VAT payments to the tax authorities. If your annual turnover exceeds the threshold set by the Slovak tax authorities (€49,790 as of 2021). You are generally required to register for VAT. However, even if your turnover is below this threshold, you can voluntarily register for VAT.

Gather necessary information

Before starting the registration process, gather the required information, such as your company details, contact information, bank account details, and information about your business activities.

VAT Rates

Slovakia has multiple VAT rates. As of my knowledge cutoff in September 2021, there were three rates:

Standard Rate: 20%

Reduced Rate 1: 10%

Reduced Rate 2: 0% (applicable to certain goods and services, such as exports or certain medical supplies)

VAT Returns

VAT payments in Slovakia are typically made through regular VAT returns. VAT returns summarize your VAT liability for a specific period (usually monthly or quarterly) and must be submitted to the tax authorities. The deadline for submitting VAT returns and making VAT payments depends on the chosen tax period. Generally, the deadline is the 25th day of the month following the tax period. However, if you opt for quarterly returns, the deadline is extended to the 25th day of the second month following the end of the quarter.

Payment Methods

VAT payments can be made through bank transfer or other electronic payment methods accepted by the Slovak tax authorities. When making the payment, you will need to include the appropriate reference details to ensure proper identification.

VAT Deductions

As a registered taxpayer, you may be eligible to claim input VAT deductions for VAT paid on your business-related purchases and expenses. This allows you to reduce the VAT liability on your sales by the amount of VAT you have paid on your inputs.

Penalties and Interest

Failure to comply with VAT obligations or late VAT payments can result in penalties and interest charges. It’s important to fulfill your VAT obligations on time to avoid any potential penalties.

Please note that tax regulations and rates can change over time. It is always advisable to consult with a qualified tax advisor or the tax authorities in Slovakia for the most up-to-date and accurate information regarding VAT payments and compliance requirements.