- Liechtenstein has published Law No. 641.20, amending its VAT legislation.
- The amendments aim to enhance tax fairness, improve tax collection efficiency, and reduce uncertainties.
- Online platforms are now liable for VAT on sales made through their services.
- Emission rights trading will be subject to acquisition tax.
- Community subsidies are more clearly defined for legal certainty.
- New regulations for travel agencies and tour operators regarding billing and input tax deduction.
- Event organization services will be taxed based on the recipient’s location.
- For certain streaming services, the place of performance is determined by the recipient’s headquarters.
- Menstrual hygiene products will now have a reduced VAT rate.
- From 2025, VAT registration and declaration will be exclusively electronic.
- Companies in online platforms, travel agencies, and emission trading must adjust their business processes to comply with the new regulations.
Source: kpmg.com
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.
