Tax Rules Slovakia

If your company or business plans to place orders in Slovakia, there are some VAT regulations to consider. The Slovak Republic being an EU member state falls under the EU VAT regime. Therefor member states must adopt EU VAT Directives into their own legislation.

• it starts providing taxable supplies
• it makes long-distance sales in Slovakia to persons not registered for Slovak VAT purposes
• and the total value of the supplied goods reaches EUR 35,000 in a calendar year (voluntary registration should be available, even if turnover is below this threshold)
• and it makes long-distance supplies of goods to individuals for personal consumption, and these goods are subject to excise tax.

There are detailed rules in place regulating the reporting requirements of Slovak transactions for Value Added Tax purposes. These VAT-tax rules include certain invoice requirements, timeliness for invoices to be issued, various invoice and credit notes corrections rules as well as foreign currency reporting requirements and exchange rate sources, correction of previously submitted returns and accounting records that must be maintained for VAT purposes.

VAT returns must be filed monthly or quarterly, depinding on taxable amount. The deadline for filing the VAT return is 25 days after the end of the taxable period.

The Intrastat filing discloses details of movements of goods between EU Member States which take place for commercial reasons, recording the movement whenever goods enter the territory of Slovak Republic from other Member States or leave it to other Member States. This Declaration must be filed monthly once the annual threshold is exceeded.

Intrastat declarations can be submitted in paper format or online. The due date these submissions is always the fifteenth calendar day of the month following the reference period. In plain English if your reference period is July, declarations must be submitted on or before 15 August.

Standard VAT Rate: 20%
Reduced VAT Rate: 10%
Registration Threshold Distance Selling: 35,000 €
Registration Distance Services: 14,000 €

Please remember you should apply for your Slovak VAT number before entering into any sales or services agreements.

If you made plans to enter the Slovak markets, we are ready to help. We can either register your existing company for VAT purposes or set up a new Slovak company for you.