We would like to inform you that in accordance with the adopted amendment to the VAT Act in Slovakia effective from 15.11.2021, all VAT payers in Slovakia are obliged to notify the Financial Directorate of the Slovak Republic of all their own bank accounts (payment, deposit) kept in the Slovak Republic or abroad used for businesses subjected to VAT.
VAT payers are obliged to send the bank account information to the Financial administration by 30 November 2021.
The VAT payer also has the opportunity to send the bank accounts detailsof a person other than the taxpayer (within the holding company or within the group), and his or her account is considered to be the VAT payer’s own account. In this case, the VAT payer is obliged to announce the beneficial owner of the bank account at the same time, who will be jointly and severally liable for the tax stated on the invoice, which (part of it) the supplier did not pay within the tax due date and the consideration (or part thereof) has been paid into such a bank account.
The reason for bank account’s details disclosure is the fact, that with effect from 1 January 2022, if the taxpayer pays for the delivered goods / services to supplier to a bank account that the tax office is not aware of, it is not the supplier who pays the tax but the customer.
If the taxpayer does not provide the account details, the tax administrator will return the excess VAT deduction within 10 days from the date of its notification. If the bank accounts details are not provided, the excess VAT deduction might be not refunded or a fine by the financial administration in the amount of € 30 to € 3.000 can be imposed.
In case that the taxpayer provides incorrect, false or incomplete information in the form, the tax administrator will impose a fine of up to € 10.000 depending on the severity and duration of the illegal situation.
Registered VAT payers are also obliged to notify of any subsequent change or additions to the bank accounts without delay.
If we represent you in electronic communication with the Financial Administration, please send us the numbers of all your bank accounts in the Slovak Republic and abroad (please indicate the bank account to which you wish to return the excess VAT deduction) you use for business subjected to VAT in Slovakia and we will fulfill this obligation towards the Financial Administration of the Slovak Republic on your behalf. To fulfill this obligation, please send us the following information:
- account number in IBAN format (Slovak payment service provider – bank account in Slovakia);
- account number, account name, BIC / SWIFT, country of establishment, full name and address of the bank (foreign payment service provider – bank account kept abroad);
- start of using your account (date), if you know it;
- in the case of accounts belonging to a person other than the taxpayer, please send the information of the beneficial owner of this account too.
If we do not represent you in electronic communication with the Financial Administration:
- you can find pre-filled forms on the financial administration portal in the Personal Internet Zone in the Forms Catalog under Tax Administration > Value Added Tax > Notification of accounts used for business (Katalóg formulárov > Správa daní > Daň z pridanej hodnoty > Oznámenie o účtoch používaných na podnikanie).
- OR you can contact us and we will be happy to help you with the notification.
You can find more details in our newsletter, which will be published on our website in the coming days