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27 August 2004
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Amendment to VAT rules on gas and electricity
The VAT rules were amended to ensure that the supply of electricity and gas is taxed in the country where it is consumed.
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27 August 2004
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Leasing companies want VAT revision to be effective sooner
Leasing companies selling used cars would like to see the amendment to the VAT law, which attempts to correct the issue of double taxation in relation to leasing used cars, approved by cabinet on 19 August 2004 to take effect sooner than 1 January 2005.
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13 August 2004
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Proposal to reduce VAT on food to 10%
Slovakian Opposition Party, SMER, has introduced a draft bill to parliament to reduce VAT on foodstuffs from the standard rate of 19% to 10% from January 2005.
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16 April 2004
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Parliament passes vetoed legislation
The Slovak Parliament re-approved a key law regulating VAT on exports and imports with EU countries, vetoed last month by President Schuster. The new law is necessary for trade with EU countries after Slovakia's May 1 entry to the EU.
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2 April 2004
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Parliament to vote on vetoed VAT bill
Slovakia's parliament may convene next week for a session aimed at overriding the presidential veto of a key law regulating VAT on exports and imports with EU countries. President Rudolf Schuster shocked the government this week when he vetoed the law apparently to protest at the January 1 convergence of two VAT rates to one, which pushed up the rate for basic foodstuffs and other necessities. Finance Minister Ivan Miklos warned that Slovakia needed the law in order to trade with EU countries and that the veto could even threaten its accession to the bloc on May 1. Even though Schuster has a track record of vetoing legislation, his decision was a surprise given that the law in question does not concern the domestic VAT rate but the technical issue of VAT on imports and exports with the EU. Although the ruling coalition lacks a parliamentary majority, it may expect to secure with the help of independent MPs the 76 vote absolute majority needed to overturn a veto.
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16 January 2004
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Increase in VAT rate of pharmaceuticals
The Slovak News Agency, TASR, predicts that Slovak pharmaceutical prices will not rise immediately following the rise in the VAT rate on drugs from 14% to 19%. TASR predicts that prices will only increase after the drug supplies already stocked by pharmacists have been exhausted. The Health Ministry however expects that the higher VAT rate will increase prices of drugs for end-users by 3.7% on average.
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09 January 2004
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New draft bill on VAT
The new VAT Bill reduces the annual turnover for VAT registration of entrepreneurs to SKK 1.5 million (€35,000).
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29 August 2003
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VAT rate for drugs to increase
After having been increased from 10% to 14% at the beginning of the year, the VAT rate for drugs is intended to be further increased to the uniform rate of 19%. The government's decision has yet to be confirmed by the Slovak Parliament.
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1 August 2003
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More amendments to the VAT law
Various changes in the VAT law have been announced. From the 1 January 2004 VAT will be refunded to taxpayers rather than being carried forward and new VAT registration numbers will also be issued to all taxpayers. These new numbers will take effect from the date of accession. Also, the date at which a transaction is deemed to have occurred will be extended to cover when advance payment is received and VAT on cars bought by leasing companies to provide their leasing services will become reclaimable.
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18 July 2003
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VAT rates remain unchanged
The Slovak president, Rudolf Schuster, has revealed that he vetoed a bill to abolish the reduced rate of 14% as he believed it would prejudice socially weaker groups of the population. The bill would have introduced a harmonised standard rate of 19%, removing the 14% reduced rate currently levied on items such as books, foodstuffs and energy.
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30 May 2003
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Unified VAT rate
From 1 January 2004, the unified VAT rate should be 19 %.
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16 May 2003
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VAT law amended
An amendment to the VAT law will allow overpaid VAT to be refunded within six months, instead of the current five years.
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4 April 2003
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VAT rate change proposed
The Slovak Government has proposed that the VAT rate should be changed to 20% and that other rates of tax (personal and corporate) should also be levied at the same rate.
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