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Taxation of Gift Certificates: VAT on Sales and Free Supply to Others

  • Sales and free supply operations of gift certificates that can be exchanged for goods/services are subject to VAT at the standard rate.
  • The taxable base for these operations is determined based on the contractual value, taking into account general state taxes and fees.
  • The taxable base cannot be lower than the purchase price of the goods/services.
  • Certain exceptions apply for regulated prices, gas supplied to the population, and electricity prices on the electricity market.
  • The contractual value includes any amounts of money and the value of material and non-material assets transferred to the taxpayer as compensation for the cost of goods/services.
  • The contractual value does not include penalties, interest on overdue amounts, inflation costs, compensation for damages, or compensation for lost profits received by the taxpayer as a result of non-performance or improper performance of contractual obligations.


Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.


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