New VAT rules for used cars will come into effect from the second quarter

• New VAT rules for used cars will come into effect in the second quarter.
• The law with amendments to the Tax Code was signed in December.
• The Ministry of Finance clarified when the new rules will take effect.
• The updated rules determine the VAT base for the sale of cars purchased for resale.
• The law states that the new rules will come into effect one month after official publication, but no earlier than the first day of the next VAT tax period.
• The law was published on December 19, 2023, and the VAT tax period is quarterly.
• Therefore, the new VAT rules will take effect on April 1, 2024.

Source: glavkniga.ru

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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