Category: Tax Articles

Changes in the input VAT deduction process

On 30/10/2014, the General Secretary of the Public Revenue released a Decision on simplifying the process of input VAT deduction. This regulation relates to the approved warehouse-keepers of alcohol and alcoholic beverages owning more than...

New VAT payment and refund Scheme

The Circulars 1212/09-26-2014 and 1214/09-30-2014, released by the General Secretariat of Public Revenues, have modified the procedures for VAT payment and refund respectively. More specifically, according to POL 1212/09-26-2014, the refund claims, submitted by subjected...

VAT DEVELOPMENTS 2014 2015

A number of significant changes regarding VAT took place in 2014, with the abolition of the annual VAT clearance return and the new simplified VAT form (effective from 01/01/2015) being the most important. TaxExperts’ VAT...

No tax return for many retirees from 2016

The Ministry of Finance is planning to exempt pensioners from the obligation to submit an income tax return, if they do not receive income from other sources. This practice is expected to be effective from...

Reduced VAT on repair and maintenance expenditure

VAT is an indirect tax imposed on the final consumer of goods or recipient of services. In this short article, we will try to examine the VAT charged on the repair and maintenance cost of...

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