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Practical Handbook VAT 2021


Necessary requirements: the intention to dedicate the goods and services purchased for economic activities must be confirmed by objective elements.

These deductions cannot be made by business people who have to apply the special additional VAT regime.

The application of these deductions has the same effects as the waiver to the special regime for agriculture, livestock and fisheries, and cannot be applied until three years have elapsed.

The first year in which goods or services are supplied shall be deemed as the first year in which the normal business year for such transactions starts, provided that these transactions start before 1 July, otherwise, it will be deemed as the following year.