Page 84 - ADVANCED TAXATION - Day 1 Slides
P. 84
Can't claim VAT if not
used for making taxable
Input VAT supplies = DENIED
To extent consumed for
Claim input VAT purposes of making
taxable supply
May claim: If ≥ 95%, deem
Input tax amount 100%
x
% taxable supplies See next slide
(apportion)
Tax Can't claim
invoice as no VAT
Only claim if: was charged
• Have necessary documentation
• Purchased from a vendor (except 2 nd hand goods)
