3-month reduction to 31 March 2023 to 10% reduced VAT rate for catering and sports-related activities
The Slovak Republic has agreed to a halving of the VAT rate on a range of supplies between 1 January and 31 April 2023. This is in recognition of inflation spikes due to post-COVID supply chain interruptions and Russian invasion of Ukraine. November 2022 inflation was 10%, slightly down on a 30-year high of 10.9% in the previous month.
A number of EU countries are cutting fuel and basics VAT to help households deal with record inflation rates this winter.
The taxable supplies included are:
- Restaurant and catering
- Sports facilities (indoor and outdoor).
Last year, the EU Finance Ministers agreed to allow more freedoms on reduced VAT rate setting which must come into effect from 2025 at the latest. Sign-up for our free VAT & GST news updates.