- The FTA has introduced significant changes and clarifications to the notification procedure, especially affecting real estate transactions, effective from 11 February 2025 (or 1 July 2025 if not favorable to taxpayers).
- The mandatory notification procedure now applies even if the transfer is not taxable, extending to individual property transfers and all tax-neutral reorganizations under Art. 19 and 61 DBG.
- The freedom to choose the notification procedure is restricted in certain cases, requiring careful documentation to avoid future VAT issues.
- For market value transactions, the notification procedure is only mandatory if a real estate business is transferred, which may cause legal uncertainty due to varying interpretations.
- Errors in contract implementation regarding the notification procedure can result in significant VAT costs and are difficult to correct retrospectively.
Source: nexia.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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