n Tax Breaks Newsletter - Claiming VAT prior to registration as a vendor : value-added tax

Volume 2016, Issue 364
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Taxpayers are often unaware of their VAT registration liabilities, which can result in a retrospective VAT registration. This regularly leads to a liability for output tax on supplies made, as amounts charged are generally deemed to be VAT inclusive. On the other hand, taxpayers may have incurred expenses during this period, and may not be in a position to claim input tax deductions as they would not be in possession of valid tax invoices. This is as a result of them being effectively registered for VAT when they incurred the expenses, with the tax invoices being rendered invalid as they would not contain the taxpayer's VAT registration number (which would not yet have been issued).

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