The general VAT rate is 24%. This rate is applied on most goods and services.
Reduced VAT rate
- restaurant /catering services.
- newspapers and periodicals
- pharmaceutical products
- physical exercise services
- film screenings
- entrance fees to cultural and entertainment events
- passenger transport
- accommodation services
- royalties for television and public radio activities
The tax legislation provides for cases of applying a zero rate. For example, tax-exempt sales of member’s magazines and advertisements to non-profit corporations.
The introduction of the new rules has lowered the registration threshold to 10 thousand euros.
As a taxpayer carrying out VAT-subject transactions, you can deduct VAT included in any goods and services that you buy from others. You can only deduct VAT if you have purchased goods or services for a purpose related to a commercial activity for which you are subject to VAT.