SLOVAKIA’s Value Added Tax (VAT) regulation system is insufficient, according to Branislav Ďurajka of the KPMG audit corporation, the Hospodárske noviny business daily reported.
Ďurajka said that after being in effect for one year, and being the subject of a major amendment in January, the bill regulating VAT is complicated and confusing.
As the bill is put into practice, insufficiencies and ambiguities are starting to float to the surface. "On several occasions, these make it very difficult for VAT payers to claim back the right sums, sometimes its even impossible," said Juraj Ontko, manager of indirect taxation at auditors Ernst & Young.
The tax office directorate issues instructions on how to claim back VAT on its website.
Compiled by Magdalena MacLeod from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
19. Apr 2005 at 10:55