- Extended Deadlines for VAT Recording: The deadline for electronically recording input VAT and VAT has been extended from 10 to 12 calendar days after the end of the relevant tax period. This includes abolishing the obligation to correct electronic records for certain transactions, streamlining the process for businesses.
- New Recording Obligations: A new requirement has been introduced for electronic recording of VAT based on retail supply and advance payments. Specific transactions, including those involving travel agencies and newly built properties, must be recorded individually, while summary records apply to others.
- Automated Customs Declarations and Temporary Error Waivers: The Rulebook establishes an automated list of customs declarations based on relevant documentation and specifies the data to be included. Additionally, from January 1 to June 30, 2025, the Ministry of Finance will not penalize businesses for errors in their VAT recordings during accuracy checks.
Source: kpmg.com
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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