Spectator on facebook

Spectator on facebook

Firms can transfer VAT tax duty

SINCE the beginning of 2016, the duty to pay value-added tax (VAT) is transferred from contractors to customers of construction works.

(Source: Sme)

The process of transferring VAT is voluntary and it is up to the entrepreneurs to decide whether to utilise the possibility in their supplier-customer relations. It is implemented only if supplier and customer are VAT payers in Slovakia, spokeswoman of the Financial Administration Patrícia Macíková told the TASR newswire in mid-January.

“Generally, the entity obliged to pay VAT is its payer who supplies goods or services in this country,” she explained. “In the regime of transferring VAT, this duty shifts to the VAT payer who gets the goods delivered or to whom services are rendered. Thus, this is an exception from the general rule.”

If a businessman introduces it, Macíková added, this means that the recipient of performed work pays the tax related to the delivery of construction works, including the delivery of a building or its part if these fall under section F of the statistical qualification of an activity’s products (CPA).

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Topic: Finances and Advisory


Top stories

Tom Odell surprised Slovak band in Bratislava Video

The British artist was wearing a T-shirt, presented to him by the Tolstoys, from start to finish at his Bratislava concert.

Tom Odell

El País: Female professor openly fights high gender pay gap in Slovakia

The major Spanish daily portrays Slovakia as one of the EU countries with the highest level of gender inequality through the story of Svetlana Fialová.

5 most significant results of the municipal elections Photo

A slightly higher turnout and more independent candidates. Some results in the municipal elections came as a surprise.