Amendment of the Value Added Tax Law

Posted on 14 Nov 2017

The House of Representatives has recently voted and amended the Value Added Tax Law with a 19% VAT on plots, in line with the European acquis.

The 19% VAT rate will only be imposed on the sale of plots to be built on, which fall within the scope of economic activity, and will be imposed on plots sold by a business/trader who is registered for VAT and will be paid in cases where the enterprise or individual is registered for VAT.