Amendment to the Value Added Tax Act

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The amendment to the Tax Code, as published in the Collection of Laws of the Slovak Republic, includes changes to the Act No. 222/2004 on value added tax. We have already informed you about the upcoming changes in the previous issues of our Newsletter.

Please find the most significant changes adopted below:

  • Introduction of the taxpayer’s obligation to disclose its bank accounts to the Financial Directorate of the Slovak Republic.
  • Introduction of a tax guarantee where the taxpayer in receipt of a taxable supply in Slovakia should or may have known that the supplier (the VAT payer) would not pay all or part of the tax amount in question and the consideration is paid to a bank account that does not feature on the list of bank accounts published by the Financial Directorate of the Slovak Republic.
  • Introduction of a new method for the payment of tax on the supply of goods or services in the supplier’s bank account administered by the tax authority in order to avoid the potential application of the tax guarantee to customers.

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