Slovakia: VAT amendment requires reporting of bank accounts by 30 November 2021
New measures require bank account reporting
New measures require bank account reporting
An amendment to the Slovak value added tax (VAT) law, effective 15 November 2021, adds a new obligation for Slovak VAT payers to report (announce or disclose) to the Financial Directorate by 30 November 2021 all bank accounts kept by providers of payment services in Slovakia (and foreign bank accounts used for the economic activity in Slovakia). Noncompliance with this obligation will be subject to penalties.
The form to be used for this reporting was already published, and the tax authorities are currently sending to VAT-payers information on the bank account registered in their systems.
Beginning 1 January 2022, the reported bank account will be used by the tax authorities, among other items, for refund of the excessive deduction. The list of these bank accounts will be published on the website of the Financial Directorate. Furthermore, a customer’s joint liability for VAT will be extended and will also apply if the consideration for the supply (or a part of it) is paid to bank account other than the bank account of the supplier as published in the list of bank accounts, as of the payment date. The joint VAT liability may be avoided if the customer pays the amount of VAT stated on the invoice for the supply of the goods and services within Slovakia to the bank account number of the supplier as kept by the tax authorities.
According to a recent interpretation presented by the Ministry of Finance as well as the Financial Directorate, the reporting of bank accounts kept by providers of payment services in Slovakia (or other countries) owned by any other party is voluntary. Provided that such a bank account will be announced, it will be treated in the same way, whereas the owner of the bank account will be jointly liable for VAT with regard to goods or services supplied (as stated in the invoice) if the supplier fails to pay this VAT (or a part of it) within the deadline, and the consideration for this supply (or part) will be paid to this bank account.
Read a November 2021 report prepared by the KPMG member firm in Slovakia
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