Notice for small business: “Inventory sheet” for the state of goods purchased with VAT will be included in the VAT scheme

According to the announcement published by the General Directorate of Taxes, small business taxpayers with a turnover of over 2,000,000 lek to 5,000,000 lek, starting from April 1, 2018, will be included in the VAT scheme, and must that, in addition to the organizational measures they must undertake, they should also report the inventory of the stock status of goods until March 31, 2018, purchased with a VAT invoice no earlier than 12 months ago.

For this reason, the following should be kept in mind:

• to compile a list of stock goods specified in quantity and value, where the date of stock registration is recorded, according to the form attached to this announcement;
• each item included in the inventory must be justified with a purchase tax invoice with VAT, purchased no earlier than 12 months from the date of the inventory declaration, and must be registered in the taxpayer’s books. The period of the invoices stated in the inventory is from April 1, 2017 to March 31, 2018. These invoices are attached to the inventory;
• the inventory must be submitted to the regional directorate, at the time of registration in the normal VAT regime, by April 30, 2018. The taxpayer also uploads a copy of this inventory to e-filing.

Also, these taxpayers must be equipped with VAT tax blocks, which must be withdrawn from the Regional Tax Directorates where they are registered.

For more information, visit the official website of the General Directorate of Taxes.