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Estonia: Planned changes to the Estonian Value-Added Tax Act

13 November 2013
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The Estonian Ministry of Finance has been initiated draft Value-Added Tax Act.  Planned changes foresee that upon purchase or use under an operational lease for of an automobile used for business purposes, only 50% of the VAT paid can be deducted. Planed changes will also affect goods and services related to an automobile used for business purposes, while buying those goods and services only 50% of the VAT paid will be deductible.

 

In Estonian society began serious discussing, since they planned changes have come under intense scrutiny by the companies.

 

The draft law also imposes a new form to the VAT declaration, on which data about all invoices which exceed EUR 1 000 per business contact must be shown in detail. The changes in are planned to be effective as of 1 July 2014.

 

 

Valters Gencs

Tax Attorney & Founding Partner

Gencs Valters Law Firm, Riga

Email: valters.gencs@gencs.eu

Tel: +371 67 24 00 90

For questions, please, contact Valters Gencs, attorney at law at info@gencs.eu


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