20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for December 2025 exams.
Get your discount code >>

Input VAT de minimis limit

This topic has 1 reply, 2 voices, and was last updated 11 years ago by Needs to pass.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
November 13, 2013 at 5:28 pm #145863
dizfaris
Participant
- Topics: 23
- Replies: 19
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
Member
- Topics: 9
- Replies: 123
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
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.