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Input VAT de minimis limit

This topic has 1 reply, 2 voices, and was last updated 10 years ago by Needs to pass.

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November 13, 2013 at 5:28 pm #145863
dizfaris
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- Topics: 23
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I am a bit confused regarding the claimable input VAT.
If the company is well below de minimis limit, which one that the company can claim ?
i) input VAT directly for taxable supplies
ii) input VAT directly for exempt supplies
iii) non-attributable input VAT
A) i & iii
B) i, ii & iii
November 14, 2013 at 9:53 am #145956
Needs to pass
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If the company passes the di-minmis test they can claim all the input VAT back.
If they fail the test, they can only claim direct VAT
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