Section 7: Implementation, regulations regarding fines, penal provisions, transitional regulations and final provisions

§ 29 Adjustment of long-term agreements

(1) If the supply is based on an agreement entered into no later than four calendar months prior to the effective date of this Act, one party to the agreement may demand from the other party that an appropriate adjustment be made to compensate for any overcharging or undercharging of VAT should another tax rate be applied under this Act, by virtue of which the transaction becomes taxable, VAT exempt or non-taxable. Sentence 1 shall not apply, if some other arrangement has been agreed by the parties involved. If the amount of the overcharging or undercharging is in dispute, § 287 paragraph 1 of the Civil Process Order shall be applied accordingly.

(2) Paragraph 1 shall apply accordingly in the case of an amendment to this Act.