Value added tax

The last issue provided an overview of the most significant changes in the Value Added Tax Act to become effective after 1 January 2016. In December 2015, the Financial Directorate of the Slovak Republic (Financial Directorate) issued several methodical instructions and guidance to explain further some of the newly introduced provisions.

Methodical instruction covering special VAT arrangements for receipt of payment for the supply of goods and services under § 68d of the VAT Act

Methodical instruction covering the reverse charge for supply of construction work under § 69 par. 12 let. j) of Act 222/2004 Coll. on Value Added Tax, as amended

Guidance on charging the reduced VAT rate on selected goods listed in Annex 7 to the VAT Act effective 1 January 2016

Guidance on classifying construction work in Section F of the Statistical Classification of Products by Activity (CPA)

In addition to the methodical instructions mentioned earlier, the Financial Administration of the Slovak Republic (Financial Administration) has published the following in relation to VAT:

 Methodical instruction covering the adjustment of deductions for capital assets under § 54 of Act 222/2004 Coll. on Value Added Tax, as amended, after 1 January 2016

Methodical instruction on collateral tax under Act 222/2004 Coll. on Value Added Tax, as amended

Methodical instruction on charging VAT for group registration under Act 222/2004 Coll. on Value Added Tax, as amended in Addendum 1