VAT repayments are taxable?
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marielle
Apprentice
Joined: 28 Dec 2005
Posts: 8
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 Posted: 01/07/08 - 10:29 Post subject: |
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I have a question which some will find a bit silly but I’d really like to be informed completely in this matter. I’d like to know to know if VAT repayments are taxable, actually these repayments normally increase my income on which income tax will be paid. I’ll probably register for VAT next year so I’d like to know that in advance.
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aymer
Apprentice
Joined: 27 Jun 2004
Posts: 4
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| Posted: 02/06/08 - 01:20 Post subject: |
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| I don’t think that this is like you think. That means that you’re not getting the refund in amount that you should get. I think that VAT is treated on separate accounts so that the balance on these accounts is zero when VAT is refunded. In this way VAT is not becoming a part of the income. So, don’t worry that repayments are taxable, there’s really no need for that. But why would you register for VAT? You would really like to pay VAT? There’s plenty of ways how to avoid paying it. That would mean a lot to you. I know that the whole country suffers from those who avoid paying taxes but still I wouldn’t feel the difference if you did that. |
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