Act 222/2004 on value added tax, as amended (the VAT Act) imposes certain duties on non-VAT payers. Even if not liable to pay VAT, businesses should still be monitoring their revenues to know whether they have exceeded the threshold for mandatory VAT registration. Unless a business has been paying attention to its accounting during the year, it might make the rude discovery that it should have registered for VAT.
The period in which a taxable entity should have filed for VAT registration and started paying VAT is understood to begin 31 days after it was required to register for VAT, and only ends the day before the day when the entity has registered as a VAT payer. The period takes into account 30 days required to register and covers only domestic taxable entities, meaning those permanently established in Slovakia – with a registered seat, established activity or residence here.
