The retail tax regime may be applied by small and mediumsize enterprises engaged in one or more types of activities approved by the Government as qualifying for this regime.
The approved list includes 114 types of activities from the most affected industries (retail, transportation, hotel and tourism, catering, entertainment, etc.). The list will be valid for two years from 1 January 2021 to 1 January 2023.
VAT payers are required to submit an application for VAT deregistration and VAT liquidation declaration at least five business days before the taxpayer starts working under the retail tax regime. A taxpayer operating under the retail tax regime is not subject to VAT registration for the entire period of the retail tax regime.
Source KPMG
