VAT in Slovakia

Updated on Thursday 10th December 2015

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The value-added tax (VAT) is a type of consumption tax which is placed on a specific product every time value is added in a production phase, as well as at its final sale. The value-added tax is more often used in the EU than in other countries of the world.
 
After entering in the European Union, Slovakia gave its approval for a VAT Act containing most of the guidance and regulations for foreign companies in need of VAT registration and of completing VAT returns. Our specialists in company formation can offer you personalized advice on how to open a company in the Slovak Republic, so feel free to contact us.

VAT Taxable Period and Rates in Slovakia

The tax period in Slovakia can be quarterly or monthly, depending on the previous turnover of the taxpayer. 
 
VAT is imposed on the selling of goods as well as on the provision of services and in Slovakia the rates applied are the standard 20% and a 10% reduced rate for various medical products. Furthermore, some supplies, such as insurance or financial services are exempt.
 
For further information on how to startup a company in Slovakia or taxes in this country, you can seek counsel from our experts in company registration

Registration of VAT in Slovakia

All legal entities and individuals carrying economic activities in the Slovak Republic are viewed as taxable. Nonresidents making taxable supplies of various goods or services in Slovakia need to register for VAT before the supply is made; except for some cases when the recipient of the product or beneficiary of the service is the one applying the reverse-charge.

Exempt goods and services in Slovakia

There are various goods and services that are deducted from turnover tax. These examples are exempted from VAT in this country:
 
  • - postal services;
  • - cultural services;
  • - export;
  • - fund raising and social assistance services;
  • - sport-related services;
  • - financial and insurance services;
  • - healthcare;
  • - public television services.
 
In case you need further information or assistance about starting a business in Slovakia, you can contact our company formation experts as they have expanded expertise in investment matters, as well as in Slovak tax issues.

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