Slovakian VAT returns
Any company registered with the Slovakian tax authorities (see our Slovakian VAT registration briefing) as a non-resident VAT trader must report taxable transactions through periodic filings, known as returns.
How often are Slovakian VAT returns required?
The default tax return period in Slovakia is one calendar month. Businesses with a turnover of less than EUR100,000 in the previous calendar year may opt to file quarterly returns. Note that newly registered companies must file monthly returns for twelve months following registration regardless of turnover.
What are the deadlines for filing Slovakian VAT returns?
Slovakian VAT returns are due by the 25th day of the month following the period end. VAT returns should be filed electronically through the Slovakian tax authority’s website. Any Slovakian VAT due must be paid at the same time.
If there are misdeclarations or late fillings of Slovakia VAT returns, foreign companies may be subject to penalties. Failure to register for VAT may be subject to a penalty of between EUR60 and EUR20,000 depending on circumstances. A penalty of between EUR30 and EUR16,000 may be imposed for failure to submit a return or late submission of a return. However, in certain circumstances (e.g. during a VAT audit) if a return is not submitted when requested the penalty may be as high as EUR32,000. If payment is delayed, interest on the amount owed is charged. Late payment interest is also charged if VAT has been underpaid due to an incorrect VAT return. There is a five year statute of limitations for Slovakian VAT.
Latest Slovakian news
January 25, 2019
The European Commission (EC) has proposed switching from unanimous to majority voting on EU VAT and other tax policies. The aim is to progress fiscal reforms which face immovable opposition from just a limited number of member states.
January 09, 2019
The EU VAT Directive has been updated from 1 January 2019 to introduce a voluntary generalised reverse charge measure on domestic transactions in member states.
December 28, 2018
Following agreement by EU member states to permit cutting the VAT rate on e-books and online journals to match the reduced/zero rating permitted on their paper-based equivalents, the following countries have already announced reductions...
- Czech Republic
- United Kingdom