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  • Interest on late VAT refunds in Slovakia


    Following the ECJ decision announced last April ,  the Slovakian government introduced changes to its VAT law to allow the possibility of receiving interest on VAT refunds when these are repaid after a given period.

    Where the tax authorities transfer the VAT amount after six months from the moment the repayable VAT return is submitted, the authorities must add daily interest to the repayment. The applicable interest rate will be twice the interest rate published by the European Central Bank and not lower than 1.5 .

    The ECJ has been proactive precluding legislations that disallow interest on...

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    By Marosa EU VAT Slovakia Published 30/10/2016 19:42

    Interest on VAT refunds in Slovakia

    The ECJ has prohibited the provisions of Slovakian tax law that disallowed any interest on VAT refunds to be repaid by the authorities after 10 days following the end of an audit.

    Although EU law requires interest to be paid on late refunds repaid by the tax authorities, in practice, not all Member States add interest to their late repayments. For example, Spain is one of the countries that usually pay interest on VAT refunds, whereas Italy does not normally pay such interest.

    Rules on VAT refunds through VAT returns are also different from one country to another. In this article , we explain some of differences...

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    By Marosa EU VAT Slovakia Published 27/04/2016 04:54

    Slovakia approves new VAT law

    Slovakia introduced several VAT changes to their VAT act. As announced in our last newsletter, the domestic reverse charge was introduced on all supplies of goods made by foreign non established suppliers.  In addition to the reverse charge changes, the following amendments have been made to the Slovakian VAT law

    • Domestic reverse charge extended to construction services (irrespective of the supplier´s establishment).
    • VAT rate on certain foodstuff is reduced to 10
    • In some cases, it is allowed to recover VAT incurred prior to a VAT registration.
    • Cash accounting scheme is allowed under certain...

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    By Marosa EU VAT Slovakia Published 26/02/2016 10:47
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