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Starting from October 1, tax control in markets will be strengthened
Starting from October 1, tax control in markets will be strengthened
Amendments to the Tax Code regarding ensuring tax control over markets, adopted at the end of last year, will enter into force on October 1. According to the amendments, tenants at markets will be allowed to operate only after the leased premises are registered with the tax authority. This obligation must be fulfilled by the market owners.
In addition, when real estate at markets is used for business purposes, information confirming its registration with the tax authority — namely the taxpayer’s name and TIN — must be displayed at the entrance of the business facility.
Under the new legal requirements, market owners are also obliged to submit to the tax authorities once per quarter an information form regarding taxpayers whose lease agreements have been terminated, those who have ceased operations, as well as those who continue to operate. The amendments do not apply to agricultural product markets and agricultural cooperative markets.
Market owners must, within 6 months from October 1, ensure the registration with the tax authority of business facilities and tenants that have not yet been registered.
These changes are aimed at preventing illegal business activities and strengthening registration discipline, thereby eliminating unregistered operations at markets. In turn, this will lead to the formalization of rental payments and ensure the lawful operation of market owners.
Amendments to the Tax Code regarding ensuring tax control over markets, adopted at the end of last year, will enter into force on October 1. According to the amendments, tenants at markets will be allowed to operate only after the leased premises are registered with the tax authority. This obligation must be fulfilled by the market owners.
In addition, when real estate at markets is used for business purposes, information confirming its registration with the tax authority — namely the taxpayer’s name and TIN — must be displayed at the entrance of the business facility.
Under the new legal requirements, market owners are also obliged to submit to the tax authorities once per quarter an information form regarding taxpayers whose lease agreements have been terminated, those who have ceased operations, as well as those who continue to operate. The amendments do not apply to agricultural product markets and agricultural cooperative markets.
Market owners must, within 6 months from October 1, ensure the registration with the tax authority of business facilities and tenants that have not yet been registered.
These changes are aimed at preventing illegal business activities and strengthening registration discipline, thereby eliminating unregistered operations at markets. In turn, this will lead to the formalization of rental payments and ensure the lawful operation of market owners.