VAT 2014 – Changes – Transactions exempted from VAT: supply of second-hand goodsTags: VAT 2014 Categories: NEWS & Events, RSS
From the 1st of January 2014, the sale of second-hand goods will be, with some exceptions, subject to VAT.
Exempted from VAT will be the supply of goods used solely for business activities exempt from VAT, if it was not allowed to deduct the input VAT from the acquisition, import or production of those goods. Example of the exempted sale of goods starting from the 1st of January 2014: goods bought and used by insurance agents only to insurance brokerage, which is exempt from VAT. In case of sale of goods used also to taxable activities current VAT rules will apply only to the end of December 2013 and beginning the 1st of January 2014 this sale will be taxed.