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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Examples of Deductible VAT in a sentence

  • Deductible VAT should be excluded from the cost but non-deductible VAT should be included.

  • Deductible VAT mainly represents the input VAT relating to acquisition of equipment subsequent to 1 January 2009, which is deductible from output VAT since 1 January 2009.

  • Ultimately, both Carroll and Frederick Counties formally withdrew from the incinerator plan based on their concerns for cost and potential environmental impacts and public opposition.

  • No. Deductible VAT payments cannot be financed under Tempus (article II.19.4, Annex VI, of the Grant Agreement) and can therefore not be co-financed.

  • Deductible VAT invoiced by suppliers will not be included in the valuation of turn- over.

  • 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).

  • Current/Fixed Assets not shown in the aforementioned items, such as Carried-Forward VAT, Deductible VAT, other VAT, inventory shortages are shown in this item.

  • For any questions on the calculation of equipment please contact the purchase department of your organisation.VAT:o Non-deductible VAT is accepted;o Deductible VAT is not accepted.

  • Deductible VAT should be excluded from the cost but non-deductible VAT should be included in the case of imports the cost should include import and excise duties (less drawback).7.2(a) PURCHASE OF GOODS AND MATERIALS INCLUDE:Purchases of goods and materials (including stationery and consumables); Purchases of goods bought and resold without further processing;The cost of raw materials, components, semi-manufactures, workshop and office materials, spares, packaging materials charged to you;Imports of goods.

  • Deductible VAT should be excluded from the cost but non-deductible VAT should be included in the case of imports the cost should include import and excise duties (less drawback).7.2(a) PURCHASE OF GOODS AND MATERIALS INCLUDE:Purchases of goods and materials (including stationery and consumables);Purchases of goods bought and resold without further processing;The cost of raw materials, components, semi-manufactures, workshop and office materials, spares, packaging materials charged to you;Imports of goods.

Related to Deductible VAT

  • Deductible has the meaning set forth in Section 11.1(e).

  • Deductible Amount means, with respect to any Insuring Agreement, the amount set forth under the heading “Deductible Amount” in Item 3 of the Declarations or in any Rider for such Insuring Agreement, applicable to each Single Loss covered by such Insuring Agreement.

  • Annual Additions means the sum of the following amounts credited to a Participant for a Limitation Year:

  • Annual Addition The sum of the following amounts allocated on behalf of a Participant for a Limitation Year, of (i) all Employer contributions; (ii) all forfeitures; and (iii) all Employee contributions. Except to the extent provided in Treasury regulations, Annual Additions include excess contributions described in Code Section 401(k), excess aggregate contributions described in Code Section 401(m) and excess deferrals described in Code Section 402(g), irrespective of whether the plan distributes or forfeits such excess amounts. Annual Additions also include Excess Amounts reapplied to reduce Employer contributions under Section 3.10. Amounts allocated after March 31, 1984, to an individual medical account (as defined in Code Section 415(l)(2)) included as part of a defined benefit plan maintained by the Employer are Annual Additions. Furthermore, Annual Additions include contributions paid or accrued after December 31, 1985, for taxable years ending after December 31, 1985, attributable to post-retirement medical benefits allocated to the separate account of a key employee (as defined in Code Section 419A(d)(3)) under a welfare benefit fund (as defined in Code Section 419(e)) maintained by the Employer.

  • full insurable value means one hundred percent (100%) of the actual replacement cost of the Property (excluding foundation and excavation costs and costs of underground flues, pipes, drains and other uninsurable items).

  • D&O Liability Insurance Policies means all insurance policies (including any “tail policy”) of any of the Debtors for liability of any current or former directors, managers, officers, and members.

  • Density bonus means a floor area ratio bonus over the otherwise maximum allowable density permitted under the applicable zoning ordinance and land use elements of the general plan of a city, including a charter city, city and county, or county of:

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;

  • Liability Insurance means compulsory professional liability errors and omissions insurance required by a governing body;

  • Covered Losses means any and all losses, assessments, fines, penalties, administrative orders, obligations, judgments, amounts paid in settlement, costs, expenses, liabilities and damages (whether actual, consequential or punitive), including interest, penalties, reasonable court costs and attorney’s fees, disbursements and costs of investigations, deficiencies, levies, duties and imposts.

  • Intrinsic Loss Estimate means total losses under the shared loss agreements in the amount of One hundred Sixty-eight million dollars ($168,000,000.00).

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Section 409A Limit means the lesser of two (2) times: (i) Executive’s annualized compensation based upon the annual rate of pay paid to Executive during the Company’s taxable year preceding the Company’s taxable year of Executive’s termination of employment as determined under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive’s employment is terminated.

  • Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.

  • Maximum allowable cost means the maximum amount that a pharmacy benefit manager will reimburse a pharmacy for the cost of a drug.

  • Tax Losses has the meaning assigned to such term in Section 7.1(a).

  • Replacement Cost means the cost to repair or rebuild the improvements owned by Lessor at the time of the occurrence to their condition existing immediately prior thereto, including demolition, debris removal and upgrading required by the operation of Applicable Requirements, and without deduction for depreciation.