- ..
- The bill clarifies that a VAT exemption would apply to the provision of medical care supplied by registered medical professionals.
- The bill includes a provision that would apply a VAT exemption to the management of certain funds based in other EU States which could affect the VAT recovery position of the fund manager. The bill also contains measures that would result in no longer exempting from VAT, services relating to the management of “Section 110” entities when those entities hold plant and machinery, and agency services provided in relation to the management of certain funds.
- The bill confirms that the 0% rate of VAT would apply to the supply of newspapers (including e-newspapers) from 1 January 2023 but that the 0% rate would not apply to other periodicals such as magazines.
- The bill includes a change to the rules around VAT deductibility on costs associated with certain finance raising activities (e.g., new share issues) so that VAT deductibility would arise under general provisions.
Source: KPMG
