All EU member states have a fixed format for their VAT numbers. In Slovakia, it includes 10 digits and the prefix SK (e.g., SK0123456789).
The standard VAT rate in the Slovak Republic is 20%, with a reduced rate of 10% on certain goods and services. Some services are exempt from Slovakian VAT, such as financial and postal services.
Businesses with a Slovakian VAT number must submit periodic payments. VAT filings and payments are submitted either monthly or quarterly.
Any Slovak tax credits should be paid within 30 days, but it typically takes much longer or can be rolled over into the next return.
For all companies that operate in Slovakia, VAT returns must be submitted monthly by the 17th of the month following the period end.
In the case of the late filing of VAT returns and payments, the Slovakian government prescribed the penalties as follows:
Invoices issued in Slovakia must contain the following data:
In Slovakia, a lump-sum penalty from EUR 60 up to EUR 3,000 for non-compliance with non-monetary obligations shall be imposed.
Electronic invoicing is permitted but not mandatory at this moment.
Every cash register has to be connected to the Financial Administration systems of the Slovak Republic via the Internet from 1st of July 2019 – eKasa register.
Thanks to the eKasa, Slovakian Financial Authorities will know in real-time when you received cash and how much. They will even know the address and exact GPS coordinates if you use a portable cash register (smartphone, tablet, or similar).
All this information will serve the financial administration for one purpose – the fight against tax fraud.
Since the financial report will generate various analyzes from your treasury data, it will promptly identify various anomalies.
Who is obliged to use the eKasa system?
The use of the eKasa system is mandatory for all entrepreneurs who accept cash as a payment method for goods and services provided in the territory of Slovakia. This includes restaurants, coffee bars, markets, and individual entrepreneurs who provide ridesharing services like Bolt or Uber drivers.
The cash invoice made by eKasa client by the cash register must contain:
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