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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Ouput reverse charge while VATable and nonVatable sales – full or proportion?
Hello,
If company is buying some e.g. services from other EU member which cannot be simply assigned to vatable and nonvatable sales it is clearly deducting input VAT with previous year proportion, but what about output? Is it full rate or proportion as well?
The reverse charge system requires you to account for the full amount of output tax but then only recover that amount of input tax attributable to your taxable supplies