Tripartite trouble with VAT
| Category | Technical Articles |
| Author | Technical Department |
Article by Stanley Dencher, senior tax editor with CCH. This article appeared in the October 2006 issue of Tax Adviser. The draftsman of the VAT legislation seems to assume that business involves a straight line of supplies, ie, supplies go from one person to another along a chain of business persons and eventually to the final consumer. At each stage, the supplier issues a VAT invoice to the customer. Consideration (usually money) goes in the opposite direction. However, the real world can be different, with important implications for recovering VAT.
October 2006 by Stanley Dencher
Technical Department
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