On 24 April 2023, in the framework of Continuous Professional Education program was held the informative session for Certified Accountants and Auditors, in cooperation with the AAB Institute, with the following topics:
- APPLICATION OF THE VAT REVERSE CHARGE FOR SERVICES PURCHASED OUTSIDE KOSOVO; and
- APPLICATION OF THE VAT REVERSE CHARGE FOR THE CONSTRUCTION SECTOR
Through this session, members of the AAB Institute for Certified Accountants and Auditors were informed about the application of the VAT reverse charge both for services purchased outside Kosovo, as well as for services in the field of construction within the territory of Kosovo.
More specifically, through this seminar/EVP, detailed clarifications were given on how and when the VAT reverse charge should be applied for services purchased outside Kosovo and services in the field of construction within the country, who are the persons obliged to apply the reverse charge, how should the invoicing be done when the reverse charge is applied, how is VAT calculated when the reverse charge is applied, how should VAT be deducted when reverse charge is applied, what are the construction services for which reverse charge should be applied, etc. Also, participants have been informed about the consequences that may arise according to the tax legislation in cases where the VAT reverse charge is not applied.
In this seminar/EVP were presented some examples and exercises to make possible the correct understanding of all the above mentioned topics.
During this seminar, participants asked various questions related to the presented topics, as well as other questions related to the Tax Legislation. For all the questions posed by the participants, adequate answers were provided by the lecturer of the seminar.
The lecturer of this session was Mr. Sami Salihu, Deputy Executive Director in the Tax Administration of Kosovo.