Management of Companies – Compulsory Registration for VAT

By NOVINKY

The Ministry of Finance amended the 2019 VAT Bill on 27 November 2018 in the way that the current VAT status of the management of companies remains unchanged. In other words, the management of companies will not be considered as taxable persons (i.e. persons to be potentially registered for VAT) due to the fact that the income of such managements is subject to payroll tax. Do not hesitate to contact your LTA advisor for further information.