This bill is drafted in the Ministry of Finance and Economic Affairs and contains three proposals for amendments to the Value Added Tax Act, no. 50/1988. First, a proposal is made to amend the provisions of the Act on Authorization to Reimburse Value Added Tax to Rescue Squads so that it will be specifically stated that value added tax may be reimbursed for work in specially equipped vehicles of rescue teams for rescue work. Secondly, it is proposed that the number limit for electric vehicles in Provisional Provision XXIV be increased and that a new amount limit be provided for the abolition of value added tax and exemption from taxable turnover due to the import and sale of electric vehicles, which will take effect from 1 January 2023. Act, an amendment is proposed to Temporary Provision XXIV in the Act regarding the current authority of the taxpayer to exempt a certain amount from taxable turnover on resale of environmentally friendly vehicles.
Source Althingi.is
