We would like to remind that the New Law introduced the following amendments:
1. Imposition of VAT at the standard rate of 19% on the sale of building land as from 2 January 2018.
2. Application of Reverse Charge mechanism on VAT taxable supplies of land and property under loan restructuring and/or force-sale arrangement as from 2 January 2018 up to 31 December 2019.
3. Imposition of VAT at the standard rate of 19% on the rental of premises used in business as from 13 November 2017.