Slovakia To Bring VAT Procedures In Line With EU Demands

by Ulrika Lomas, Tax-News.com, Brussels

07 November 2003

Slovakia, one of the ten countries due to join the EU in 2005, has indicated that it will adopt new tax measures requested by the European Commission in its Comprehensive Monitoring Report.

Speaking to reporters earlier this week, Slovak Finance Minister Ivan Miklos said that the draft bills for the changes have been finalised and are ready to be debated in the cabinet and parliament.

In its report, the Commission called upon Slovakia to accelerate reforms amending its VAT procedures to bring them in line with EU practices, which will mean the country’s VAT collection will become the responsibility of the customs department.

In the report, released last June, the European Commission revealed that all of the forthcoming members of the European Union - with the exception of Estonia and Latvia - have corporate tax measures in place which could disrupt the EU's internal market.

However, Slovakia was put at the head of the 10 acceding nations last week in an EU report on their progress towards compliance with the massive 'acquis communautaire'.

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