Slovakia: VAT proposed amendments to require public listing of bank accounts
Three amendments that generally would be effective 1 January 2022
The Slovak Ministry of Finance proposed to amend the VAT law
The Slovak Ministry of Finance proposed to amend the value added tax (VAT) law with three amendments that generally would be effective 1 January 2022.
Under the proposed amendments:
- VAT-payers would be required to report to the tax authority its own (as well as foreign) bank accounts used in their economic activity. The list of bank accounts would be publicly available on the tax authority’s website.
- A customer’s joint liability for VAT would be extended to apply if the consideration for the supply is paid into another bank account (other than the publicly listed bank account).
- Customers would be allowed to remit the amount of VAT (as stated on an invoice) for a supply of the goods and services within Slovakia to the bank account of the tax authorities and thus avoid potential joint liability for VAT.
Read a May 2021 report prepared by the KPMG member firm in Slovakia
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