Draft VAT Amendments: Cash Method as the Default Rule
The bill proposes making the cash method the primary form of VAT settlement. In principle, the tax obligation would arise upon receipt of payment, and the right to deduct input tax would arise upon payment of the invoice. The changes also extend the right to quarterly settlements to taxpayers on the corporate income tax lump sum.
Key points
The VAT obligation is to arise, in principle, on the day payment for goods or services is received.
The right to deduct input VAT from a purchase invoice will be available to the buyer only after payment is made.
Taxpayers subject to the lump sum tax on corporate income (up to EUR 4 million revenue) will be able to file quarterly returns.
57%
VOTING RESULTS
2024-10-01
For
240
Against
178
Abstain
0
Previous:
Rejected
Status:
Immediate Rejection
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