·
if
goods or services are identified in gift voucher, then reimbursement for
the gift voucher could be treated as an advance payment and the taxpayer has the
right to choose, whether to calculate VAT or not (application to the gift voucher
which are valid for a period shorter than 12 months);
·
if
the gift voucher is valid for a period longer than 12 months and goods or services are
identified in the voucher, the taxpayer should calculate VAT for such gift
voucher as for an advance payment received (i.e optician’s store’s gift
voucher, which for the acquisition of eyeglasses, is valid more than 12 months.
In this case, taxpayer should calculate VAT as for advance payment);
·
if
goods or services are not identified (i.e it is not clear neither what
goods will be purchased, nor at what store), then the reimbursement received
for the gift voucher is not considered as an advance payment and gift voucher
is not subject to VAT (i.e a shopping centre’s gift voucher is valid longer
than 12 months. Such voucher does not identify neither exact goods/services,
nor the particular store in the shopping centre. Therefore, gift voucher is not
subject to VAT);
·
if
a taxpayer has chosen to calculate VAT or he should calculate VAT for gift
voucher as indicated above, the VAT rate for selling of gift voucher should be
the same as that, which would be applied for the goods/services, acquired with
the gift voucher;
·
selling
the gift voucher, VAT invoice should be issued for the sale of gift voucher
only, if reimbursement for gift voucher is treated as an advance payment, which
is the subject to VAT. When, the gift voucher will be used (i.e. goods/services
will be acquired), the “final” VAT invoice should be issued;
·
if
reimbursement for the gift voucher is not treated as advance payment, the VAT
invoice should be issued only at the time when goods/services are acquired with
the gift voucher, i.e. there is no obligation to issue a VAT invoice at the
time when the gift voucher is acquired.
08.03.17
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