The obligation to adjust the deducted VAT arises to taxable person in respect of capital goods acquired or their self-generation at own expense if he changes the purpose of their use. A change in the purpose of use of investment property is also the leasing of real estate with exemption from tax.
We would like to inform you about the case concerning the VAT payable on the agency business services with the conditional commission instalments that was recently decided by the European Court of Justice (ECJ).
Recently, the European Court of Justice discussed a VAT regime in relation to the royalty payable to an author of an original work of art on the basis of the resale right. When making their decision, the judges referred to the earlier judgment relating to fees on blank media and recording as well as reproduction devices paid by producers and importers.
As of 1 November, 2018, legal entities registered in the Slovak Commercial Register, which are not public authorities or issuers of securities admitted for trading on regulated market, are required to register in non-public part of the relevant Commercial Register information regarding their ultimate beneficial owners (“UBOs”).
We would like to briefly outline the recent case of the European Court of Justice (ECJ), which dealt with the sale and lease back of capital goods in terms of VAT. The ECJ dealt in the Case C-201/18 Mydibel SA with a question, whether there are from the VAT point of view two separate transactions or a single transaction, a financial transaction.
Find out more about about entering Slovak market from our: “2019 Company Formation in Slovakia (PDF)”.
When doing business in Slovakia, you should pay extra attention to the important tax deadlines. Our comprehensive 2019 Tax Calendar prepared by our experts will keep you updated.