The member companies of the AFI are highly qualified consulting professionals that strive to help investors and businesses impacted by the COVID-19 situation in many different ways. Here, our members have prepared views and informed opinions on various aspects of the crisis. The article below has been prepared by the global leader in assurance, tax, transaction and advisory services - EY.
Later this week, the so-called Anti-crisis Package designed to help entrepreneurs and companies overcome the adverse economic effects of the coronavirus pandemic should take effect.
The introduced changes include, inter alia, the transfer of selected services from the first reduced VAT rate (15%) to the second reduced VAT rate (10%). The following services are affected:
The reduced VAT rates will take effect on the day following the date of publication in the Collection of Laws. The effect should therefore be expected in the coming days, but the exact date is still unclear. Consequently, you should be prepared for potential change of the tax rate from one day to the next.
The article may be found HERE.