Commentary

V1.246 Proportion of consideration representing overseas VAT

Part V1 General principles and rates of tax

V1.246 Proportion of consideration representing overseas VAT

V1.246 Proportion of consideration representing overseas VAT

The consideration for a transaction may include an amount representing a liability for VAT under the law of another EU member state. Regulations may provide for the proportion of the consideration to be taken as such for the purposes of VATA 1994 to be conclusively determined by reference to such invoices as may be prescribed, or in such other manner as may be prescribed1. No regulations have been made to date.

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial