The Slovakian President signed on 18 October 2024 the Act implementing a 3% VAT rise from 1 January 2025.
In addition to the standard rate rise, there will also be a new 19% reduced rate (replacing the existing 10%) with no change to the super reduced rate of 5%. A number of supplies, will move from reduced VAT rates to the standard rate.
Slovakia 2025 VAT rises
Supplies
2024
2025
Standard rate
20%
23%
Food
20%
19%
Domestic electricity
20%
19%
Catering supplies
10%
23%
Basic foods
10%
5%
Medicines & medical devices
10%
5%
Books, textbooks, newspapers, and magazines
10%
5%
Accomodation
10%
5%
Rental housing support
5%
5%
Read more in our Slovak VAT guide.
The new coalition government has announced the rise to aid the goal of reducing the governments deceit from the 2024 6% level to 4.7% before 2026.
The central European country of 5.4 million has been under pressure to curb one of the highest deficits in the European Union, a result of increased public spending during the coronavirus pandemic and Russia’s invasion …
In the original proposals, the Ministry of Finance highlighted that Slovakia’s 20% VAT rate is below the EU average of 21.8%, and lower than surrounding EU member states:
Hungary HU- 27%,
Poland -23%,
Czechia – 21%
In addition to the VAT hike, the corporate income tax rate would rise from 21% to 22%
The measure is part of a range of many tax changes to stabilise the country’s deficit.
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