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Slovakia raises VAT 1% to 20% in January 2011


Slovakia raises VAT 1% to 20% in January 2011

Slovakia has agreed to follow the Czech Republic with a 1% VAT rate rise.  It is trailed as a temporary measure, to be withdrawn at the start of 2012.  The reduced VAT rate may be withdrawn.

The rate tracks the Czech rate, which rose from 19% to 20% on January 2010.

It is included as part of package of measures to help sure up the government’s deficit.  As a future member of the Euro currency, the Slovak government must contain its deficit within 3% of GDP, which is a key criteria for the currency.


VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.