Page 34 - Chapter 32 VAT Part 1
P. 34

9.1. Imported services (continues…)



   • Time of supply:



   • [s 14(2)] earlier of…



   • issue of an invoice or


   • the making of any payment by recipient



   • Value of the supply:



   • [s 14(3)] greater of…


   • consideration or                                                                        =



   • open-market value






   • What are the journal entries for the importer of services?







   • What is the income tax implication for VAT charged on an


         imported service that is not allowed as input VAT?
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