- The new VAT chain came into effect on January 1, 2025, with a circular published by the tax authorities introducing changes.
- The circular includes new submission and payment dates for VAT quarterly filers and a stricter penalty policy.
- The article focuses on the revised procedure for reclaiming VAT credits.
- VAT credits can be carried forward to the next return or refunded by the administration.
- Until September 2025, VAT credits can be reclaimed via the last VAT return.
- From October 2025, a “provision account” replaces the “current account” for storing VAT credits.
- Only the most recent VAT credit can be reclaimed via the return; others must be requested through the provision account on MyMinfin.
- The tax authorities can use the provision account to offset debts in certain cases.
Source: alaska-group.eu
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.
