In Brief

The main changes compared to the original draft amendment, details of which are included in our May´s issue of Tax&Legal News, are as follows:

• the option for the Tax Authorities to refund prior to opening a tax audit part of the excessive deduction where they based on the data reported in the VAT Ledger Statement have no doubts as regards the amount to be refunded, will not be introduced,
• VAT payer who decides to opt for taxation of supply of an immovable property will be obliged to announce this decision to the customer in writing, within the deadline for issuance of the respective invoice.

We will keep you updated about the next steps in the legislative process.