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Marcel Murani

Ing. Marcel Muráni, Steuerberater

We would like to draw your attention to an important change regarding the Tax policy which effects the VAT Act as well.

The VAT payer is required to notify the Finance Administration about their bank accounts by 30 November 2021

This measure regards the VAT payers registrated in accordance with §4, §5 who are going to be oblidged to notify the Finance Administration of Slovakia (FR SR) from 15 November 2021 about their bank accounts used for conducting their economic activities (for business withtin the meaning of the VAT Act).

Moreover the tax entities will be obliged to informed FR SR of any changes concerning their bank accounts such as the addition of a newly established account for business activities or cancellation of bank account. Furthermore, they will have to submit the announcement based on a form issued and published by FR SR on its web page. It will be compulsory to report the new bank account to FRSR before its usage for business activities that are subject to VAT.

From 1 January 2022 it will valid that excess VAT deduction will be returned/ paid back only to registered bank accounts that are in the list of the bank accounts. In case, the VAT payer doesn´t have a registered bank account the excess VAT deduction will be refund within 10 days from the announcement of the bank account to the Tax administrator.

Since 1st January 2022 if customer pays the invoice to an account other than the listed one, they are liable for the payment of VAT not paid by the supplier

It means that the customer has to verify before payment whether the given bank account is registered in FR SR and if not they can either be exposed to the risk of liability or notify their supplier who either corrects it or uses so-called split payment.

The customer can pay the VAT directly to the Tax office instead of the supplier – split payment

It can be defined as the payment split of supplier´s invoice including Slovak VAT. This can be applied in case of unreliable supplier, whereby the customer divides the sum of the invoice into 2 parts:

  1. The taxable amount of the invoice paid to supplier
  2. The VAT paid directly to the account of the state budget, namely to the personal tax account listed in the Tax Office. This payment is marked by the entrepreneur as i fit were paid by the supplier himself.

The purpose of this payment split is to avoid a situation where the customer is liable for the VAT to be paid by the supplier. This option of split payment will be available for payment of the invoice until the tax office delivers to the customer a decision on the obligation to pay unpaid tax on behalf of the supplier.

If the customer pays the tax for the supplier on his account at the Tax Office and at the same time the supplier pays the tax, then the tax paid by the customer will be considered as a tax overpayment of the supplier. The same applies if the customer pays a higher tax than the total tax payable by the supplier for the tax period.

In order to eliminate the risk of VAT liability not paid by suppliers, we recommend that taxpayers reconsider the steps of processing invoices, verifying supplier transactions and archiving related information for the purposes of possible tax audit or application of the institute of liability. We will be glad to help you with the right settings.

Failure to comply with this obligation can result in a fine of between € 30 and € 3,000. If the payer provides incorrect, false or incomplete information on the form, a fine of up to EUR 10,000 may be imposed.

We will arrange for you the given obligation to report existing accounts as of 30.11. 2021. Please do not forget to contact us immediately if you create a new account for business purposes.

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