New VAT rules were defined for the use of vouchers due to a lack of uniformity in the application of the rules to define the place and time of delivery of specific goods and services, the establishment of the tax obligation and the definition of the tax base for transactions involving vouchers.
A voucher is defined as an instrument in physical or electronic form and is associated with the entitlement of the holder to receive specific goods or services and the commitment of the supplier to accept such voucher as consideration for the delivered goods or services.
The proposed amendment of the act differentiates between two types of vouchers, single-purpose and multi-purpose vouchers, depending on if a predefined good or service may be attributed to the specific voucher.
The purpose of classifying vouchers is to properly determine the date on which a tax obligation is established and if such tax obligation is established at the time the voucher is issued or at the time the voucher is redeemed for the specific good or service. These changes are applicable to vouchers issued after 31 December 2018.
The rules do not apply to discount vouchers, which entitle holders to a discount from a purchase, but no entitlement to any specific goods or services in exchange for the voucher.
