Slovak Parliament Votes Against Temporary VAT and Excise Duty Reduction on Fuel and New Depreciation Option for Technical Improvements of Tangible Assets

On 18 June 2024, the Slovak parliament voted against two draft laws that would have temporarily reduced the rate of VAT and excise duty on gasoline and diesel fuel from 1 July 2024 to 31 December 2025. As previously reported, the draft law on VAT would have reduced the applicable rate from the standard 20% rate to a reduced rate of 8%. The draft law on excise duty would have reduced the duty rate from EUR 514 per 1,000 liters for gas to EUR 359 and would have reduced the duty rate from EUR 36…