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The following specific situations should be noted:

VAT liable supplies with no entitlement to VAT recovery: for example this applies to a selection of supplies, including acquisition and rental of personal cars before 1 January 2010, catering exemption from VAT with entitlement to VAT recovery: this applies to export of goods, supply of goods to another EU Member State and certain services, the transfer or use of rights abroad, international transportation exemption from VAT with no entitlement to VAT recovery: this applies to postal services, broadcasting and television, financial and insurance services, education and science, health care services, lotteries and other similar games, transfer and leasing of real estate (in the event an option to tax is not applied), the sale of a business under certain conditions. The specification of such services is in accordance with the 6th EU Directive.

EC Sales Lists

According to the Slovak VAT Act effective from 1 January 2010, the EC Sales List (reporting the IC supply of goods and services) must be filed monthly or quarterly (if, in general, the value of the goods stated in the EC Sales List will not exceed EUR 100,000 in the respective quarter) regardless of the fact whether the taxpayer is a monthly or quarterly VAT payer. The EC Sales List must be filed by electronic means within 20 days of the end of the respective period. It has to be signed by an electronic signature or alternatively the taxpayer is required to conclude a written agreement with the Tax Authorities on electronic communication. In both cases a separate registration with the tax authority of the entity and of the person entitled to sign electronically on behalf of the entity is necessary to enable the electronic filing.

Refunds

Taxpayers with a VAT registration in Slovakia The excess input VAT claim should be carried forward and offset against future VAT liability in the following taxable period. The excess input VAT claim which could not be offset against the VAT liability declared in the following taxable period should be refunded to the VAT payer within 30 days after the VAT return for the following period was filed (i.e. excess input VAT can in Slovakia be recovered within approximately three months if a tax audit did not extend this period).

According to the changes in the Slovak VAT Act effective from 1 April 2009, alternatively, an excess deduction of the VAT claim declared may be refunded to taxpayers in an accelerated refund procedure, i.e. within 30 days of the deadline for filing the VAT return for the respective VAT period if specific conditions are met.

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©2010 KPMG Slovensko spol. s r.o. , a Slovak limited liability company and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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