BAZV (Health Tax) is increased & BPPS Tax Levy is introduced
One of the most relevant Tax changes for the Business Community will be the increase of the BAZV, also known as the Health Tax. As per July 1st, 2018 the BAZV will be in- creased from 2% to 3%. The BBO, also known as the Turnover Tax will remain unchanged, at 1.5%.
As per July 1st, 2018 a new Tax Levy will come into effect, i.c. the BPPS, which is a Private Public Partnership Tax. The Tax Rate is set at 1.5%.
Basically the total Tax Rate regarding the aforementioned taxes will increase from 3.5% to 6%.
The Tax Office will soon issue new Tax Forms, however, the BBO/BAZV/BPPS tax forms for the month July 2018 have to be filed at the utmost on August 15, 2018. Please note the following:
· Goods and/or services provided before July 1st, 2018 of which payment is received after July 1st, 2018 will be subject to the BAZV-rate of 1.5%
· For payments received before July 1st, 2018 but for which goods and/or services are provided after July 1st, 2018, the BAZV- rate of 1.5% will be applicable.
As per July 1st, 2018 a new Tax Levy will come into effect, i.c. the BPPS, which is a Private Public Partnership Tax. The Tax Rate is set at 1.5%.
Basically the total Tax Rate regarding the aforementioned taxes will increase from 3.5% to 6%.
The Tax Office will soon issue new Tax Forms, however, the BBO/BAZV/BPPS tax forms for the month July 2018 have to be filed at the utmost on August 15, 2018. Please note the following:
· Goods and/or services provided before July 1st, 2018 of which payment is received after July 1st, 2018 will be subject to the BAZV-rate of 1.5%
· For payments received before July 1st, 2018 but for which goods and/or services are provided after July 1st, 2018, the BAZV- rate of 1.5% will be applicable.