Initiative from the construction sector.
These are companies classified under code F/CONSTRUCTION of the Standard Industrial Classification and we mainly deal with legal persons liable for value added tax. Pursuant to Article 89 of the Value Added Tax Act (ZDDV-1-UPB3, Official Gazette of the Republic of Slovenia, No 13/2011), the tax period of undertakings is the calendar quarter. Due to the accumulation of VAT and the refund of excess VAT 21 days after the submission of the return, the length of the accounting period places a liquidity burden on businesses. Since businesses operate under the above-mentioned code, they are obliged to submit a monthly Supply Report (Article 76a), notwithstanding the fact that they submit VAT-O returns for the calendar quarter.
It should be noted that companies in the construction sector are facing liquidity problems and being obliged to report supplies of goods and services on a monthly basis under Article 76a of the VAT Act-1, we propose to consider introducing a one-month tax period for all companies reporting under Article 76a of the VAT Act-1.