Slovakia VAT Services

 VAT registration in Slovakia

Registering for VAT in Slovakia is necessary for businesses exceeding the turnover threshold or engaging in taxable activities within the country. Below is a detailed guide covering the requirements, process, and timelines for VAT registration in Slovakia.

Who Needs to Register for VAT in Slovakia?

Mandatory VAT Registration

A business must register for VAT in Slovakia if:

  • Its taxable turnover exceeds €49,790 within 12 consecutive months.
  • It provides goods or services subject to VAT in Slovakia.
  • It engages in intra-community acquisitions exceeding €14,000 annually.

Voluntary VAT Registration

Businesses with a turnover below the threshold can voluntarily apply for VAT registration. However, the Slovak tax authorities may require additional verification before approving the application.

Non-Resident VAT Registration

Foreign businesses that supply taxable goods or services in Slovakia must register for VAT, regardless of turnover. This applies to companies selling goods online, providing digital services, or engaging in intra-community transactions.

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.

Slovakia VAT Rates & Compliance

VAT Rates in Slovakia

  • Standard VAT rate: 20% (applies to most goods and services).
  • Reduced VAT rate: 10% (applies to books, medicines, healthcare products, and some food items).
  • Zero-rated VAT: Applies to intra-community and international trade.

Ongoing VAT Obligations

  • VAT Returns: Filed monthly by default, but some businesses may qualify for quarterly returns.
  • VAT Payments: Due by the 25th of the month following the tax period.
  • Record-Keeping: Businesses must maintain VAT records for at least 10 years.

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.

VAT Deregistration in Slovakia

A business can apply for VAT deregistration if:

  • Its taxable turnover falls below €49,790.
  • It ceases trading or changes business activities.

VAT deregistration applications are typically processed within 30 days.

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.