- Annual Tax Act 2024 has been finalized
- VAT related changes in the Act include:
- Extension of transitional period for legal entities governed by public law
- Taxation of event services with virtual participation at recipient’s location
- Cancellation of VAT exemption for supplies in connection with storage and in VAT warehouse
- Certification procedure for educational services exemption remains in place
- Reduced VAT rate for works of art and collectors’ items
- Extension of unduly charged VAT regulation to self-billing invoices
- Changes to input VAT deduction for supplies procured under cash accounting scheme
- Clarification on input VAT apportionment calculation method
Source: kmlz.de
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.
