Value Added Tax (VAT) is an indirect tax on consumption that is paid by the consumer. The company is an intermediary between the consumer and the final state. The company acts as a collector of taxes, and VAT has no influence on the outcome. It is neither a burden nor a product for the company.
Taxable transactions are all transactions for consideration whether for the delivery of goods or services made by a taxable person. The transactions also include taxable supplies to oneself, and the production of goods by the company itself. It also imports intra-community acquisitions.
Operations are exempt from exports, medical and paramedical services, social, educational, cultural, sports, education, and the sales of properties over 5 years will attract interest and certain bank charges.
It concerns mainly lawyers, attorneys, authors, writers, trainers who are eligible for VAT exemption, rental of naked premises for professional use.
This option allows the company to charge VAT from the customer, but also allows the company to reclaim the VAT paid on its purchases.
Tags: Value Added Tax, description of VAT, uses of VAT
[...] - Extravagant expenditure on education as boats, racehorses . - Passenger vehicles places) - Gifts whose price is inclusive of more than € 61 (that portion that exceeds € 61) - Airplanes, cycles . - Of services relating to passenger transport vehicles (passenger vehicle is put in repair at the garage so VAT is not recoverable) counts of VAT deductible: 44566 and 44562 The declaration and payment of VAT Companies must file their VAT return accompanied by payment to the tax office which they depend. [...]
[...] To sell well, the event is delivered. For the service, the event is the completeness of the service. The chargeability of VAT collected It is the right that the public purse can be argued for the payment of VAT. For the sale of goods and chargeability of the delivery date and delivery service, chargeability of the collection of payments are balance in due. In some cases like the service, the chargeable event and chargeability do not match. The deductible VAT Two fundamental rules - VAT is deductible by the company as if payable to the supplier.VAT must appear on invoices. [...]
[...] This option allows you to charge the VAT to the customer, but also allows the company to reclaim VAT paid on purchases. The VAT collected The different rates of VAT - Normal rate to for most goods and services. - The VAT for the basic foodstuffs, passenger transport (except taxi), books, water, improvements, alteration, improvement and maintenance of homes over 2 years for the benefit of individuals . - VAT at for drugs reimbursement by social security, the news media, the TV license fee . [...]
[...] The company is an intermediary between the end consumer and the state. The company acts as a collector of taxes, VAT does not affect the result. This is neither a burden nor a product for the company. The scope of VAT Taxable transactions These are all operations for consideration whether the delivery of goods or services are made by a taxable person. Taxable transactions are also deliveries to itself that is to say the production of goods by the company itself. [...]
[...] The account will be credited with 44,562 debit balance. For the Turnover before tax from VAT: VAT \ 0196 = AC HT The OD of VAT are dated the last day of the month. The declara tion and its rules are to be filed no later than around 20 of the following month. Registration of Accounting VAT credit We have a VAT credit when the deductible VAT exceeds the output tax. Month end Account # Date Flow Loans Late N. [...]
Online readingwith our online reader
Content validatedby our reading committee