Forthcoming changes in the field of VAT
The VAT amendment, which should be valid from January, was suspended in the House of Parliament. It means that it will be valid from April. However, if approved as proposed, it will further expand the reverse charge for the provision of employees in construction or assembly work, which means for the activities that are in this regulation.
The next new change is the change in the adjustments of the allowance and compensation in the cases of loss or destruction of assets, which was not demonstrated or confirmed properly and an allowance was originally applied. In accordance to the current law, the obligation of retrospective tax assessment develops in these cases. After the amendment, the proportionate share of the allowance will be returned in the term of 5 or 10 years in the case of long-term assets.
The amendment established the next development of the obligation with the tax return. In the case of delivering the goods or providing the service with the place of filling in the country, which will be longer than 12 months, the obligation to the tax return will be the last day of every calendar year, which follows the year after the transaction was initiated. It will apply to work contracts, where partial fulfilment will be not negotiated.
All of the companies (previously corporation without the legal subjectivity) advantageous adjustments are being cancelled out by the law. On the contrary, the VAT law expands the so-called unreliable person as the predecessor and the successor of the unreliable payer.
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