Deductible VAT definition

Deductible VAT means VAT that is recoverable under the national ‘VAT system’ (i.e. the system of collection and deduction under the national VAT legislation). Such VAT is not a genuine and definitive cost and, according to accounting standards, should not be recorded as such. Therefore, it is not actually incurred by the beneficiary.
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Deductible VAT means VAT that is recoverable under the national ‘VAT system’ (i.e.
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Related to Deductible VAT

  • Deductible has the meaning set forth in Section 8.04(a).

  • High Deductible Health Plan means a Health Plan as defined by 26 USC § 223(c)(2)(A) that also is a Qualified Health Plan.

  • Annual Additions means, with respect to each Participant, the sum of those amounts allocated to the Participant's Account under this Plan and accounts under any other qualified defined contribution plan to which the Employer or a Related Employer contributes for any Limitation Year, consisting of the following: