VAT deduction definition

VAT deduction means deducting part of input and/or output VAT where the VAT amount payable to the state budget is reduced or the VAT amount recoverable from the state budget is increased by the amount of the deductible input and/or output VAT, calculated according to provisions of this Law.
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VAT deduction means the proportion of input and/or import VAT , deductible under the provisions of this Law.
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Examples of VAT deduction in a sentence

  • Accordingly, the Fund is considered in Luxembourg as a taxable person for VAT purposes without any input VAT deduction right.

  • VAT Deduction at source: In case of supplier within Assam, VAT deduction at source, as per Order/ notification of the Govt.

  • Value added tax The Company is considered in Luxembourg as a taxable person for value added tax (“VAT”) purposes without input VAT deduction right with regards to its fund management activities.

  • The Fund is considered in Luxembourg as a taxable person for value added tax (“VAT”) purposes without any input VAT deduction right.

  • Accordingly, the Company is considered in Luxembourg as a taxable person for VAT purposes without any input VAT deduction right.

  • Upon registration as a VAT payer, an entrepreneur natural person having the status of a small business may obtain a VAT deduction for the inventory balance referred to in the second paragraph of this article as provided for by this Code, provided relevant documents are available.

  • Accordingly, there is no necessity for the recipient of goods or services to correct the input VAT deduction claimed from his tax office in charge.

  • The Company is considered in Luxembourg as a taxable person for value added tax (“VAT”) purposes without any input VAT deduction right.

  • Value added tax The Fund is considered in Luxembourg as a taxable person for value added tax (“VAT”) purposes without input VAT deduction right.

  • In mirroring this right, the recipient of goods or services must correct and repay the input VAT deduction claimed on purchase of goods or consumption of services.

Related to VAT deduction

  • Tax Deduction means a deduction or withholding for or on account of Tax from a payment under a Finance Document.

  • FATCA Deduction means a deduction or withholding from a payment under a Finance Document required by FATCA.

  • UK Tax Deduction means a deduction or withholding for, or on account of, Tax imposed by the United Kingdom from a payment under a Loan Document.

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Input Tax Credit means the credit of input tax;

  • Allowable Deductions means the following costs, charges, and expenses incurred or accrued by Payor:

  • Deduction means the amount that is treated as deductible from the taxable income under the laws of the payer or investor jurisdiction. The term 'deductible' shall be construed accordingly.

  • Tax Amount has the meaning set forth in Section 4.01(b)(i).

  • input tax , in relation to a vendor, means—

  • post compulsory deduction salary means the amount of salary available to be packaged after payroll deductions required by legislation or order have been taken into account. Such payroll deductions may include, but are not limited to, taxes, compulsory superannuation payments, HECS payments, child support payments, and judgement debtor/garnishee orders.

  • maximum council tax reduction amount means the amount determined in accordance with paragraph 29;

  • Member Nonrecourse Deductions has the meaning of “partner nonrecourse deductions” set forth in Treasury Regulations Sections 1.704-2(i)(1) and 1.704-2(i)(2).

  • Ultimate Net Loss as used herein is defined as the sum or sums (including loss in excess of policy limits, extra contractual obligations and loss adjustment expense, as hereinafter defined) paid or payable by the Company in settlement of claims and in satisfaction of judgments rendered on account of such claims, after deduction of all salvage, all recoveries and all claims on inuring insurance or reinsurance, whether collectible or not. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company's ultimate net loss has been ascertained.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.