August 2, 2024
VAT increase on September 1, 2024 - what to consider when buying and selling at an auction?
The general value-added tax will increase from 24 % to 25.5 % from September 1, 2024. The amount of tax is determined by when the service is performed or when the goods are delivered to the customer. In this blog, we explain in more detail how the change in VAT will affect buying and selling at auction houses in August-September. So, whether you plan to buy or sell at an auction, it's worth considering that a value-added tax rate of 24% will still be applied to purchases or items sold by the end of August 2024.
