What are the specific rules for the reverse charge for wholesale telecommunications services?

Feb 15, 2025 ... ... VAT credits available to offset against the VAT due on a transaction. If the supplier has sufficient VAT credits, the payment service ... In the case of any such excess credits arising after 23rd of July 2019 a registered person may apply for an offset/refund within a period of 24 months from the ... sales receipts, VAT credit notes and VAT debit notes. It should be read in conjunction with the Value Added Tax Act, 2014, as amended (“VAT Act or the Act”), ... Proportional deduction of input VAT applies whenever a taxable person (business) carries out both transactions in respect of which VAT is deductible (taxed ... This is the gross value of imported goods on which import VAT was paid. 70. Total Purchases subject to VAT Line 60+65. 75. Total Input Tax: This is total VAT ... As an exception, VAT rates below 6% are also available to some specific business segments under a simplified VAT filing method (in which input VAT is not ... Input VAT is, it is defined as the VAT applied to company purchases of goods or services by your business. Feb 4, 2024 ... How can VAT credit be used? · You can ask for the credit to be offset. In that case, the VAT credit will be carried forward to your future ... The two most prevalent methods are the credit-invoice method and the subtraction method, also known as a business transfer tax. (There is also a third type, the ... ... VAT may be able to obtain a VAT refund if it has VAT credit. For what ... you have explicitly requested a refund of your input VAT by ticking the appropriate box ...