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Slovakia: Domestic Corporate Taxation

Sales Taxes and Vat

The standard VAT rate is 20%. A reduced rate of 10% applies to medicine and certain pharmaceutical products, books and brochures. A VAT refund is normally offset against the following month’s tax liability, but will be refunded by the tax authority if it cannot be deducted in the next VAT return.

VAT is payable on imports, but in many cases there is no VAT on exports. Exemptions to VAT include financial services, banking and insurance. Property rental is also exempt. An enterprise with a turnover in excess of EUR49,790 per year must register for VAT. Reporting is done either monthly or quarterly and VAT due must be paid by the 25th day following reporting.

Excise duties are payable on alcohol, tobacco, leaded and unleaded fuel, and industrial and commercial fuel.

 

 

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