June 8 2018
On 29 May 2018, the Ministry of Finance published for public consultation a proposal for amendments to regulations for the application of the VAT Act. Below the most important topics mentioned in the proposal are listed:
- the requirements related to annual adjustment of input VAT in the case of mixed use of business assets;
- clarifications on input VAT adjustment in the case of VAT deregistration of a person;
- details on the register of the persons exempt from the obligation for providing security to tax authorities when receiving liquid fuels;
- clarifications regarding gold coins considered as investment gold and exemption from VAT on their importation;
- the inclusion of goods provided under finance lease in the nomination of the formula for calculating the pro rata VAT deduction; and
- the abolishment of the requirement for the submission of a list with the available assets at the date of the VAT registration.