VAT deduction definition

VAT deduction means deducting part of input and/or output VAT where the VAT amount payable to the state budget is reduced or the VAT amount recoverable from the state budget is increased by the amount of the deductible input and/or output VAT, calculated according to provisions of this Law.
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VAT deduction means the proportion of input and/or import VAT , deductible under the provisions of this Law.
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Examples of VAT deduction in a sentence

  • Accordingly, the Fund is considered in Luxembourg as a taxable person for VAT purposes without any input VAT deduction right.

  • VAT Deduction at source: In case of supplier within Assam, VAT deduction at source, as per Order/ notification of the Govt.

  • Value added tax The Company is considered in Luxembourg as a taxable person for value added tax (“VAT”) purposes without input VAT deduction right with regards to its fund management activities.

  • The Fund is considered in Luxembourg as a taxable person for value added tax (“VAT”) purposes without any input VAT deduction right.

  • Accordingly, the Company is considered in Luxembourg as a taxable person for VAT purposes without any input VAT deduction right.

  • Accordingly, there is no necessity for the recipient of goods or services to correct the input VAT deduction claimed from his tax office in charge.

  • Upon registration as a VAT payer, an entrepreneur natural person having the status of a small business may obtain a VAT deduction for the inventory balance referred to in the second paragraph of this article as provided for by this Code, provided relevant documents are available.

  • The Company is considered in Luxembourg as a taxable person for value added tax (“VAT”) purposes without any input VAT deduction right.

  • Value added tax The Fund is considered in Luxembourg as a taxable person for value added tax (“VAT”) purposes without input VAT deduction right.

  • In mirroring this right, the recipient of goods or services must correct and repay the input VAT deduction claimed on purchase of goods or consumption of services.

Related to VAT deduction

  • Tax Deduction means a deduction or withholding for or on account of Tax from a payment under a Finance Document.

  • FATCA Deduction means a deduction or withholding from a payment under a Finance Document required by FATCA.

  • UK Tax Deduction means a deduction or withholding for, or on account of, Tax imposed by the United Kingdom from a payment under a Loan Document, other than a FATCA Deduction.

  • Agreed Deductions means any deductions the Agency Worker has agreed can be made from their pay;

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Input Tax Credit means the credit of input tax;

  • Transaction Deductions means all Tax deductions available to any Group Company, to the extent permitted by applicable Law, as a result of or in connection with the repayment of Indebtedness, the payment of Group Company Transaction Expenses and payments of amounts that would have been Group Company Transaction Expenses but for the fact that they were paid prior to the Closing, and the payment of any fees or other costs and expenses associated with the transactions contemplated by this Agreement, in each case that are economically borne by Seller.

  • Allowable Deductions means the following costs, charges, and expenses incurred or accrued by Payor:

  • Deduction means the amount that is treated as deductible from the taxable income under the laws of the payer or investor jurisdiction. The term 'deductible' shall be construed accordingly.

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).

  • Tax Amount has the meaning set forth in Section 4.01(b)(i).

  • Straddle Tax Period means a Tax period that begins on or before the Closing Date and ends after the Closing Date.

  • Nonrecourse Deduction shall have the meaning given such term in Regulations Section 1.704-2(b)(1).

  • input tax , in relation to a vendor, means—

  • Gross-Up Amount has the meaning set forth in definition of “Make Whole Amount.”

  • Member Nonrecourse Deduction has the meaning assigned to the term “partner nonrecourse deduction” in Treasury Regulation Section 1.704-2(i)(1).

  • post compulsory deduction salary means the amount of salary available to be packaged after payroll deductions required by legislation or order have been taken into account. Such payroll deductions may include, but are not limited to, taxes, compulsory superannuation payments, HECS payments, child support payments, and judgement debtor/garnishee orders.

  • maximum council tax reduction amount means the amount determined in accordance with paragraph 29;

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Net After Tax Amount means the amount of any Parachute Payments or Capped Payments, as applicable, net of taxes imposed under Code Sections 1, 3101 (b) and 4999 and any State or local income taxes applicable to the Executive on the date of payment. The determination of the Net After Tax Amount shall be made using the highest combined effective rate imposed by the foregoing taxes on income of the same character as the Parachute Payments or Capped Payments, as applicable, in effect on the date of payment.

  • Member Nonrecourse Deductions has the meaning of “partner nonrecourse deductions” set forth in Treasury Regulations Sections 1.704-2(i)(1) and 1.704-2(i)(2).

  • Ultimate Net Loss as used herein is defined as the sum or sums (including loss in excess of policy limits, extra contractual obligations and loss adjustment expense, as hereinafter defined) paid or payable by the Company in settlement of claims and in satisfaction of judgments rendered on account of such claims, after deduction of all salvage, all recoveries and all claims on inuring insurance or reinsurance, whether collectible or not. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company's ultimate net loss has been ascertained.

  • True-Up Amount means the difference between the ABO calculated by using the member’s actual creditable service and the actual final average compensation as of the member’s effective date in the FRS Investment Plan and the ABO initially transferred.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.

  • Net Tax Benefit has the meaning set forth in Section 3.1(b) of this Agreement.

  • Transaction Tax Deductions means any Tax deductions relating to (i) the Company Transaction Expenses, and (ii) repayment of the Indebtedness, including any unamortized deferred financing fees in connection with the Indebtedness.