VATupdate

Tax law changes, amendments reflected in “enforcement decrees”

The provisions with respect to value added tax (VAT) concern:

  • An extension of the due date for tax invoice receipts with respect to an input VAT deduction
  • Allowing an input VAT deduction when a tax invoice was erroneously filed or when there was an error in the determination of consignment sales
  • A revised taxable period with respect to a consolidated VAT payment

Source: KPMG