Real time reporting becomes the standard
A key element of the Slovak model is real time reporting. Invoice data must be submitted immediately, gradually replacing traditional VAT returns. This shift means that transaction level data will become the primary source for tax reporting.
A decentralized 5 corner model
Slovakia will introduce a decentralized 5 corner model, where certified service providers play a central role. These providers connect to the Slovak Financial Administration, which acts as the Peppol Authority, enabling real time data exchange.
For businesses, this means that system integration and the choice of the right service provider will be critical to ensure compliance.
What should you prepare for?
If your organization operates in Slovakia, this is the moment to assess your readiness. Are your systems able to handle real time data exchange? Do your processes support structured e invoicing? Starting early helps you stay in control and avoid last minute implementation challenges.
Daniëlle van der Meulen-Idema
Sr. VAT & Tax Technology Specialist