Invoicing and Tax regulation in Slovenia
Invoicing Regulation in Slovenia
In Slovenia, businesses are regulated by the Financial Administration (Fina) for invoicing. It's mandatory for invoices to contain all the necessary details, such as the total amount to be paid, VAT amount, date of issue, and both parties' tax identification numbers. You must keep your invoices for at least ten years.
Real-time Reporting / Fiscalization in Slovenia
In order to improve tax revenue collection, Slovenia implemented a real-time reporting and fiscalization system, which came into effect from 1 January 2016. The Slovenian businesses are required to issue invoices with a certified fiscal device in real-time. Failure to comply can result in hefty penalties.
E-invoicing in Slovenia
E-invoicing is optional for B2B and B2C transactions in Slovenia. However, for B2G transactions, Slovenia has made e-Invoicing mandatory from October 2018 following the European Union Directive 2014/55/EU. Only electronic invoices in the European standard will be accepted by all public contracting authorities.
VAT/GST/Tax Compliance in Slovenia
The standard VAT rate in Slovenia is 22%, while the reduced rate is 9.5%. There's a mandatory obligation for all businesses operating in Slovenia to register for VAT if their annual turnover exceeds €50,000. VAT returns must be submitted monthly or quarterly. Tax determination, collection, and remittances to tax authorities must be done in compliance with the country's tax regulations to avoid penalties. For the B2G sector, compliance monitoring is especially stringent.