On 3 October, the Slovak National Council adopted an amendment to the VAT Act.
This provides for an increase in the general VAT rate from 20% to 23% from 1 January 2025.
In addition, the reduced VAT rate of 10% will be abolished and replaced by a new reduced rate of 19%.
The second reduced VAT rate of 5% will remain unchanged.
Here is a non-exhaustive list of products whose rates will change:
- Basic” food products will fall from 10% to 5% (butter, cheese, milk, bread, fruit, vegetables, certain types of meat and fish);
- Other food products will fall from 20% to 19%;
- Medicines and medical devices will be reduced from 10% to 5%;
- Electricity will fall from 20% to 19%;
- Books will rise from 10% to 23%;
- Catering services serving alcoholic beverages will increase from 20% to 23%;
- Restaurant services serving non-alcoholic beverages will increase from 10% to 19% (note that Slovakia has also adopted a tax on sweetened non-alcoholic beverages which will come into force on the same date);
- Catering services will be reduced from 10% to 5%.
For more information, and any questions you may have about changes to VAT law in Slovakia, please contact our experts.
Source: Slovak National Council (in Slovak)
