The fiscal authorities approved an order for the model, content, and completion instructions for the form to apply for the split VAT payment mechanism. The fiscal authorities issued Order no. 2743/2007 to apply other recent legal provisions regarding the split VAT payment mechanism.
This payment mechanism refers to the obligation of persons registered for VAT purposes to open and use at least one VAT account for the collection and payment of VAT. In certain circumstances, even persons that are not registered for VAT purposes are required to pay the VAT equivalent of the purchases of goods and services into a VAT account of the supplier or provider.
The above-mentioned obligation remains an option until 31 December 2017. The reason this order was required was to allow the persons registered for VAT purposes to communicate to the fiscal authorities their option to apply the split VAT payment mechanism. By submitting this form, the responsible persons can choose to apply this mechanism and will be recorded in a public register and displayed on the website of the fiscal authority.
Only persons registered for VAT purposes can choose to apply this mechanism and can submit this form.
This form can be used only until 31 December 2017 because on 1 January 2018 the application of the split VAT payment mechanism becomes mandatory.