Real estate leasing according to VAT act: letting out a real estate according to the general regulations is VAT free. If the taxable entity wants to lease the property with VAT and wants to deduct the related previously calculated VAT then the leaser shall declare to the Tax Authorities at the beginning of the activity that it differs from the general regulations. The declaration shall be done exclusively at the beginning of the activity respectively at the end of the year becoming effective from 1st of January next year.
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