Penalty imposed by the Tax Authority. Submission of the supplementary VAT return as an admission application unduly high excess

Penalty imposed by the Tax Authority. Submission of the supplementary VAT return as an admission application unduly high excess (Judgement of the Supreme Court of the Slovak Republic No. 2 Sžf 59/2013 of February 12, 2014)

If the taxpayer, by an additional tax return admitted, that it applied unduly high excess and also admitted that it unduly used funds from the state budget then the tax authority had to impose the penalty from the difference of the unduly high excess pursuant to Section 35 (3) of the Act No. 511/1992 Coll. on administration of taxes and fees and on changes in the system of territorial financial authorities, as amended.