Public entities to be exempted from VAT for a year

Wed 23 Oct 2019 15:05 GMT | 19:05 Local Time

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The tax deduction will be applied to public entities, APA reports.

This has been reflected in the proposed amendments to the Tax Code.

According to the Draft, realising the works and services by public legal entities for the fulfillment of the obligations stipulated by their charter and assigned to them, which are approved by the body (structure) determined by the relevant executive body, on the basis of an agreement concluded with the body (structure) determined by the relevant executive body, at the expense of From January 1, 2020, funds allocated in accordance with budget legislation from the state budget are exempted from value-added tax (VAT) for 1 year.

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