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BRATISLAVA, July 5 (WebNoviny.sk) – The application of value-added tax (VAT) to real estate used for housing should be changed.
According to the Finance Department, the practice of the application requires the need to modify the existing rules in order to avoid the abuse of the deduction of tax deductions in the provision and rental of these goods.
"The goal would be to restore the tax on the state budget
The new taxpayer could not benefit from his tax on the supply of electricity. an apartment, a family home or a flat without tax.The proposal aims to prevent tax deductions in order to obtain unjustified economic benefits consisting in particular of deducting VAT in full on the tax. the acquisition of such property and the undervaluation of the purchase price of the buildings intended for housing after the expiry of five years from the date of approval of the construction. In the case of the sale of residential property after five years and before the end of the 20-year deduction period, the taxable person is required to adjust the VAT deducted from the acquisition of the property and restitute the difference tax to e similar procedure is proposed by the finance department also for the rental of real estate for the home. "Regardless of the status of the beneficiary, from where the tenant, the taxpayer will still be obliged to apply the tax exemption for rent if it is intended for housing," is written in the proposal, and that this amendment would apply lease agreements that were entered into after the coming into force of the Act. It is proposed from 1 January 2018. If the proposed changes are also translated into the final version of the amendment, according to the tax consultant and partner of the consultancy company Accace Petra Pašeka may cause significant activity on the market real estate from here the end of the year. "am-card-image =" top "data-lazy-srcset =" https://cdn.webnoviny.sk/sites/32/2018/02/peniaze1-81×54.jpg 81w, https: //cdn.webnoviny. sk / sites / 32/2018/02 / peniaze1-312×208.jpg 312w, https://cdn.webnoviny.sk/sites/32/2018/02/peniaze1-672×448.jpg 672w, https://cdn.webnoviny. sk / sites / 32/2018/02 / peniaze1-120×80.jpg 120w "sizes =" (max-width: 81px) 100vw, 81px "data-dominant-color =" # b5c3c8 "/> Significant activity in the real estate market
"A certain group of taxpayers will try to sell homes for which they would be threatened to sell under the tax-exempt regime. The reason is that there is a risk of obligation to return a portion of the tax deducted for the acquisition of such property, .
The amendment to the VAT Act also responds to the need to transpose European rules into our legislation.The amendments concern the application of VAT to the supply of services and distance selling, while Turnover thresholds are introduced for taxable persons located in a single EU Member State who also provide electronic services in other Member States and it is also proposed to cancel the guarantee for the registration of taxable persons for payers
