Proposed Changes to VAT Act 2025: Impact on Employers and Financial Activities

• Draft amendment to VAT Act 2025 published
• Will be considered by the Chamber of Deputies
• Changes include:
• Rule for determining tax base for supplies to employees
• Narrowing scope of financial activities exempt from VAT
• Correcting tax base for irrecoverable receivables
• Reducing time limit for VAT deduction on credit notes to two years

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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