- The State Secretary for Finance has updated the explanatory notes of the Turnover Tax Decree, including substantive changes that will take effect on January 1, 2026, notably the expiration of certain provisions related to accommodation services and amendments to VAT applicability for medicinal products and educational materials.
- Key changes include the exclusion of specific items from the reduced VAT rate, such as capsules for flavored water, and updated classifications for various medical and educational products, ensuring clearer guidelines for VAT application.
- Additional clarifications have been made regarding the scope of VAT exemptions for sports facilities, bicycle repairs, camping services, and cultural performances, with the decree aimed at improving compliance and understanding of the reduced VAT rate regulations.
Source Taxlive
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