VATupdate

Taxpayer “white list” amended

Source Deloitte

As from 1 July 2020,

  • the legislation extends the deadline for notifying the relevant tax authorities of a payment made to a bank account not included in the white list from three to seven days
  • if the payment is made to a bank account outside of the white list, the taxpayer should not face risks if the taxpayer uses the split payment mechanism
  • the legislation provides that a purchaser is not required to verify whether the bank account listed on an invoice is included in the white list when paying an invoice for international transactions
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