The Tax Administration (TA) has announced that it will launch a program to ensure that the construction industry better complies with tax laws. They decided to take this step because construction is one of the leading economic branches in the country and has significant potential for economic and fiscal growth, but also carries significant risks when it comes to compliance with tax regulations.
The PU said that their analysis showed that part of the taxpayers from the leading business correctly declare and settle their tax obligations, but also that there are taxpayers who operate in the gray zone.
"The gray zone includes labor registrations, possession of work and construction permits, cash turnover, material procurement and land valuations, due to which the state loses a significant part of tax revenues," the PU pointed out.
As explained, the program that will be launched will include a series of activities, from information and education of taxpayers to control and undertaking compulsory collection measures for taxpayers with the highest degree of identified risk. In addition, special attention will be focused on the control of business regularity related to activity registrations, employee registrations and salary payments, use of the right to VAT credit refund and money disposal.
"It is expected that the implementation of the program will contribute to increasing the number of taxpayers registered in the construction industry, increasing the degree of voluntary compliance with tax regulations, establishing a better business environment and sanctioning unfair competition on the market in the field of construction", said the PU.
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