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Photo by Vladimir Ivanovo (V)
The State Tax Inspectorate (STI), which has inspected several luxury home development companies, observes that entrepreneurs report lost taxes only after the inspector’s attention, and the violations are related to intentional deferral of tax payments and meeting the personal needs of managers.
After the selection of the transactions of large real estate projects (RE) for the control of the company, we observed a certain tendency to urgently adjust the VAT returns for more than 12 months. Egl Ramanauskien, Director of the ITS Control Department, summarizes in a press release the advance received, the income actually sold or transferred and the VAT on sales.
According to her, the main reason for this behavior is umarism or insincerity, but the tax administrator also evaluates these cases of non-compliance with tax disciplines, since this intentionally delays the payment of taxes and the state does not receive the income. budgeting on time.
For example, a company that has registered the completion of an apartment building has indicated that it has sold all but 3 of the apartments in it in 2 years.
However, after analyzing the data from the i.VAZ subsystem of the STI electronic vats, it was confirmed that already in the first year of completion of the registration the goods were not sold to the shareholder, and the company received VAT invoices from public services (water, electricity, heating). it also increased during the period.
When the use of a dwelling is permitted, the sales VAT invoice is not paid to the buyer until 24 months after justification of the termination, sometimes in an attempt to avoid the obligation to declare VAT on the full value of the dwelling in time. In this case, the VAT returns are adjusted by deducting the VAT deducted only from the cost of construction of the house and the amount of VAT paid to the budget, according to the STI.
New housing to meet personal needs
Several cases have been identified in which luxury home developers sell or rent luxury homes to companies. The latter indicated that the leased premises were used for representative purposes, but that they were unable to provide relevant data upon request.
For example, one company sold a luxury car park to another company, which indicated that it should be used by its customers and other incoming guests. At the same time, the director of the company that bought the first one and his wife bought the apartment together. After the apir of the apartment bought by Mons, the repair works that are being carried out there have been identified, and said two apartments are discussed, both owned by the company and personally linked to its director, says E. Ramanauskien.
As a result of the discrepancies, the companies had to adjust their VAT and corporate tax returns, and company-related expenses, to the income recognized in kind by their manager.
In total, more than 200 control actions were carried out in the first half of the year in relation to companies in the construction sector, after which an additional fee of more than 824,000 euros was set.
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