Slovakia – Approved increase of the standard and reduced VAT Rate with effect from 1st January 2024

The Slovak Ministry of Finance has approved an increase in the standard VAT rate from 20% to 23% and an increase in the reduced rate from 10% to 19%, effective from 1st January 2025. The super-reduced 5% VAT rate remains unchanged; however, there are several changes regarding the categories of goods and services to which the reduced VAT rates will apply. For example:

A 5% VAT rate will newly be applied on selected basic foods, medicines, pharmaceutical products, medical supplies, books, other printed products, and accommodation services.
A 19% VAT rate will newly be applied on other food items, non-alcoholic beverages served in restaurants, and electricity.