Examples of VAT Account in a sentence
The Bank has the right to deduct the receivables due to the Bank from the Account Holder on account of an undue amount posted to his/her Account or VAT Account from the receivables due to the Account Holder from the Bank under the Account Agreement, without the need to submit a separate declaration of will.
If the Bank maintains more than one VAT Account and the Account Holder requests for another Account to be opened, without indicating which of the VAT Accounts should be the related account, the new Account shall be related to the VAT Account linked to the Current Account.
If the Account Holder fails to submit such Instruction within the notice period, the Bank may make a transfer from such VAT Account to a VAT Account he/she indicates.
The Bank shall notify the Account Holder of the number of such VAT Account, in an electronic or paper form.
If the funds gathered on the VAT Account are interest bearing, interest shall be capitalised without a separate Instruction on the Current Account related to the VAT Account, if the Account Holder does not indicate another Account related to the VAT Account.