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Public Consultation for Draft Bill to Implement EU Legislation on VAT Act

The bill includes provisions to: 

  • Change the VAT registration threshold to EUR 49,790. 
  • Regulate processes for VAT registration exemptions and cancellations
  • Exempt VAT for EU-purchased or imported goods and services if made accessible free of charge 
  • Revise the VAT deduction requirement regulations for non-payment of VAT 
  • VAT requirements for refund 
  • Payment service providers’ recordkeeping duties for cross-border payments. 

Source: GVC

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