The draft bill for the 2024 Annual Tax Act proposes to amend two VAT exemption provisions that failed to pass in 2023. The changes relate to VAT exemption for credit management and for operational helpers in agriculture and forestry. The government aims to align the law with other EU Member States to eliminate competitive disadvantages for German creditors. The amendment is based on the belief that credit management constitutes a uniform VAT-exempt service, as recognized by the VAT Committee at EU level.
Source KMLZ
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