
CBAM: Carbon Border Adjustment Mechanism
The EU has adopted the Carbon Border Adjustment Mechanism to regulate the obligations of importers of certain goods.
Our indirect tax team can help make your operations more effective, so you can minimise VAT and administrative costs. Advising on VAT implications and structuring of your transactions in Slovakia we make use of relevant argumentation from the applicable court cases as well as our vast practical experience with the Slovak tax authorities.
Automated VAT Compliance Solution ensures all steps in the VAT compliance process are completed and saves your time for other important work.
Why our Automated VAT Compliance Solution?
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The EU has adopted the Carbon Border Adjustment Mechanism to regulate the obligations of importers of certain goods.
The proposed changes for the modernization of VAT rules also include transitions to electronic invoicing and “real-time reporting”.
Summary of the main areas covered by the draft amendment to the VAT Act from July 1, 2024.
A significant change in the form of Reverse-charge on imported goods is coming from 1 July 2024.
“For many companies, VAT reporting is a considerable administrative burden; however, it can be reduced to a large extent by automation. In this context, software solutions do not have to be expensive; automation is also possible without costly modifications of the accounting software and purchases of additional modules.”
The fight against VAT fraud has become one of the major priorities of tax audits in Slovakia.