EU accession has had a major impact on VAT legislation and practice in the Slovak Republic. It has made a complicated situation even more complex. Tax rates, VAT law and VAT systems differ in each Member State. This complex area requires expert advice to ensure that you are maximizing the cost effectiveness of your business. It is essential to monitor and manage VAT costs and to ensure that you comply with all the relevant legislation. Our indirect tax team can help you to streamline your operations to minimize VAT and administrative costs and provide you with the skill and foresight that you need to manage your VAT, rather than just paying it.
Although EU membership has greatly simplified the intra-Community customs procedures for international trade, many new rules and regulations governing trade outside the EU now apply to the Slovak Republic. Non-compliance with these rules can lead to severe financial consequences such as penalties for late payment of excise duties or incorrectly applied customs tariffs, or being unable to recover import VAT. PwC' customs and excise team provides you with the help and advice you need on legislation and the correct application of customs and excise duties and tariffs.