- The Ministry of Finance clarified how the amended VAT rate for 2026 applies to goods shipped with prepayment in 2025.
- If goods are prepaid in 2025 but shipped in 2026, the VAT rate effective at the time of shipment (2026) will apply.
- Businesses must account for the new VAT rate when invoicing and reporting VAT for such transactions.
Source: research.ibfd.org
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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