On 24 October 2018, a proposal to amend the Value Added Tax Act was submitted to the parliament. The proposal concerns the new VAT rules applicable to vouchers from 1 January 2019. Details are summarized below.
The proposal provides that no supplies are made for VAT purposes in the case of unused multi-purpose vouchers following their expiration, or where no goods or services are provided.
Furthermore, if a taxable person sells vouchers on behalf of other persons for a fee, a service is deemed to be performed by such intermediary.
In addition, the proposal recommends that the special VAT rules for vouchers not be applied to the following:
- instruments that entitle the owner to receive a discount when receiving goods or services;
- vouchers for travelling, cinema, museums, etc., as well as postal stamps; and
- food vouchers issued by a person having been authorized to do so by the Minister of Finance.