Tax News: What changes in the tax area can we expect?

The return to sustainable public finances and the stabilization of public debt in relation to GDP is a priority of the Slovak government defined in the National reform program of the Slovak Republic for 2024.

In this program, the Government of the Slovak Republic provides an overview of already implemented and planned measures based on specific recommendations of the Council of the European Union for the Slovak Republic, such as more effective tax collection using the potential of environmental and property taxes.

The interdepartmental comment procedure ended on April 8, 2024 and comments are currently being evaluated. The proposal mentions the following measures related to the tax area:

Reducing the VAT gap and improving the efficiency of VAT collection

- The government plans to regulate tax fraud in connection with software warnings "three times and enough."

- It is expected that the implementation of this measure will begin in a short period of time, and we will inform you about specific changes.

Streamlining tax arrears recovery processes

- The Tax Code shall be amended in the section governing the recovery of arrears with the aim of increasing the volume of recovered and paid arrears, reducing the total volume of registered arrears, increasing the effectiveness of enforcement and ensuring the development of IT support for executors.

E-invoicing

- The aim is to create an information system for submitting invoices in electronic form. E-invoicing is one of the pillars of the European Commission's initiative VAT in the Digital Age "ViDA”, which aims to modernize the VAT system in the European Union and bring a new digital system for reporting data from issued electronic invoices in real time.

- It is expected that the implementation of this system at the national level shall continue.

- According to the proposal of the European Commission, the introduction of E-invoicing should be mandatory by 2028.

Improving the quality of electronic services in Tax Administration

• QR codes for tax payments

- It is proposed to insert QR codes into documents of Tax Administration. The first documents with a QR code are planned to be sent to the tax payers in May and June 2024.

- The aim is to reduce the number of errors in the payment of taxes, fees or fines on the part of the tax subject.

• Pre-filled tax returns of natural persons receiving income from dependent activity

• Termination of the employer's obligation to perform the annual settlement of the tax from dependent activity

• The quality of electronic services should also be improved in the Tax Administration of the customs area.

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