VAT registration changes and Special Scheme for Small Enterprises implemented in Slovakia
Slovak RepublicThe currently applied threshold of turnover EUR49,790 within any 12-month period will be replaced by two new thresholds from 2025:
- EUR50,000 within a calendar year, with a compulsory VAT registration from 1 January of the subsequent calendar year,
- EUR62,500 within a calendar year, with a compulsory VAT registration from the date of the supply pursuant to which the threshold is exceeded.
The VAT registration shall be filed within 5 working days from when the threshold is exceeded. Non-established VAT payers will be required to file for a VAT registration within 5 working days from the day they become VAT payers in Slovakia.
Non-established entities will benefit from the special scheme for small enterprises, therefore see their supplies not subject to VAT, in Slovakia where:
- Their turnover in Slovakia in the current calendar year does not exceed EUR62,500;
- their turnover in Slovakia in the previous calendar year does not exceed EUR50,000;
- their turnover within the EU in the current calendar year does not exceed EUR100,000 and
- they benefit from the special scheme for small enterprises in their country of establishment.
Key Takeaway
VAT registration threshold will be increased from 2025 and compliance obligations for non-established businesses will be aligned with those applicable to locally established ones. Businesses trading in Slovakia must therefore monitor their activity to make sure that they remain compliant.