Finance minister responds to book VAT backlash, cuts the rate on books

In response to criticism over a proposed VAT increase on books from 10 to 23 percent, Finance Minister Ladislav Kamenický (Smer) has announced a surprising change. Books, newspapers, and magazines will now be subject to a 5 percent VAT rate.

“I have done everything in my power to ensure that no one can accuse Kamenický of being opposed to having educated people in Slovakia,” Kamenický said.

Last week, the minister remarked that books are primarily purchased by wealthier individuals in Slovakia, yet he has not published the analysis he referenced.

During a regular Question Hour session in the debating chamber on Thursday afternoon, Kamenický confirmed that the amendment would be submitted by two Smer MPs. The 5 percent VAT will also apply to audiobooks and e-books, which are currently subject to a 20 percent VAT rate.

Kamenický expressed his intent to closely monitor how large bookshop chains adjust their prices following the VAT reduction.

“I’m curious to see how you will bring prices down,” he warned them. “I will keep track of it.”

As many as 140 authors have previously endorsed the Save the Book (Zachráň knihu) initiative, expressing concern over a potential decline in interest in Slovak literature should the proposed 23 percent VAT on books be implemented.

“With the Czech Republic introducing zero VAT on books, Slovak readers will increasingly turn to Czech bookshops for translated literature, which will be significantly cheaper,” the initiative explained.

It also noted that younger readers are already favouring more affordable foreign literature in English, and any further price hikes would only exacerbate this trend.

Culture Minister Martina Šimkovičová, representing the far-right Slovak National Party, has proudly proclaimed the importance of protecting Slovak culture. However, she has remained silent on the proposed increase in VAT on books, failing to address the issue at any press conference.