Accounting, Payroll, Tax & Legal since 1989

Changes in VAT legislation regarding tax credit

If an entity has not used tax credit for a good or a service it has purchased, but afterwards uses this good or service to perform taxable supplies, the entity has the right to use the tax credit.

The requirement is that the entity has duly entered the purchase of these goods or services in its purchase ledger. 


13.04.13


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