Tax & Legal

In a most recently published judgment, the Supreme Tax Court decided that freelance professionals who voluntarily keep accounts and draw up annual stock inventories cannot determine their VAT payable by using the so-called cash method (at the time remuneration is received) rather than on the basis of the agreed remuneration (as invoiced).

The finance ministry has published its draft taxonomy for the electronic filing of accounts in support of the tax returns. The final version is expected to be ready for 2011 filings.