The Department of Taxation informs that, upon the identification by the Department or the voluntary attendance of non-eligible persons who "benefited" from a reduced VAT rate of 5% for the purchase/construction of a dwelling for use as a main and permanent place of residence in the Republic, a debt recovery claim is created.
In cases where financial difficulty for a one-time repayment of the debt is established, the possibility of gradual repayment of up to 12 instalments is provided and in exceptional cases the Tax Inspector may approve a repayment plan of up to 24 instalments.
To establish a repayment schedule, a request may be submitted to the local District Offices of the Tax Department.
(MB/SX)
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