- The Senate approved a bill on October 10, 2023, which modifies the OB 1968 Act to implement mandatory changes to the VAT Rates Directive.
- The changes affect the additional margin scheme and the provisions for levying VAT on certain virtual services provided to customers.
- The changes must be implemented by December 31, 2024, and apply from January 1, 2025.
- The additional margin scheme will not apply if resellers have purchased antiques, works of art or collectibles at a reduced rate.
- Cultural, artistic, sporting, scientific, educational or entertainment services provided virtually will be taxed at the place where the customer is established, has their domicile or habitual residence.
Source Taxlive
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