Slovak VAT Act key changes

2 February 2016

Changes to the Slovak VAT Act, which were implemented on 1 January 2016 have brought the following key changes to the VAT regime:

• The VAT rate on basic foodstuffs has been reduced from the standard rate of 20% to the reduced rate of 10%.
• In an effort to prevent fraud, a new domestic reverse charge has been introduced for supplies in the construction industry.
• The introduction of a general reverse charge for domestic supplies made from non-resident to resident VAT registered companies.