Turnover exempt from value-added tax
Value-added tax law contains an extensive catalogue of goods and services which are exempt from value-added tax.
These include e.g.
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export deliveries,
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services provided by certain professional groups (e.g. doctors),
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financial services (e.g. granting loans),
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insurance services,
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buying and selling real estate,
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letting property in the long-term,
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cultural services provided to the public (e.g. by public theatres, museums, zoos, etc.),
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turnover by certain institutions providing general education or vocational training, and
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services provided in an honorary or voluntary capacity.
In most cases, an entrepreneur providing goods or services which are value-added tax-free is not allowed to deduct input tax.
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