![]() ![]() Have all VAT input credits and refunds due been claimed fully? There is a four-year time limit for old claims so consider any VAT law changes since 2008.Property developers that rent out residential property typically trigger an input VAT clawback but that can usually be spread over a number of years.Refunds of VAT incurred in other EU Member States can now be made through ROS (“8 th Directive” reclaims), which is much faster than before.In such cases, typically neither purchase nor sales VAT need be paid over. over 75% of turnover is from export sales)? Consider also the reverse charge rules for cross-border supplies and domestic property/construction supplies. Can the VAT 13B authorisation apply (i.e.If possible, issue invoices in the early days of a “new” VAT period rather than the last few days of an “old” one.If VAT was returned on invoices issued and a debtor is unlikely to pay, bad debt relief can apply and a refund claimed.Cash flow projections are poor as funds are blocked with debtors and inventory, while the payables are due in a shorter time span. If so, issuing a request for payment (instead of a VAT invoice) means that VAT is only due when payment is received. Examples of Cash Flow Management Example A Short Cash A small business has 90 days of inventory, but receivables are due in 60 days. where progress payments are sought during the course of a project). ![]()
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