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Is it possible to delay the replacement of VAT?
Is it possible to delay the replacement of VAT?
In January 2024, the principal amount of the electronic invoice presented to us was paid to the bank account, while the VAT amount was paid to the VAT deposit account. Although our right to reclaim the paid VAT arose in January, we applied in March. In this regard, we would like to clarify whether there has been any violation of the law.
The State Tax Service under the Ministry of Economy has stated that Article 166 of the Tax Code determines the time of transactions subject to VAT. Article 174.1 states that the amount of VAT to be paid to the budget for the reporting period is determined by the difference between the amount of tax calculated on the taxable turnover in accordance with Article 173.1 of this Code and the amount of tax to be reclaimed in accordance with Article 175 of this Code.
The taxpayer must carry out the reclamation in the month when this right arose. Since the taxpayer made payments based on the electronic invoice for January, they must reflect these transactions in the VAT declaration for that month. If the taxpayer has not accounted for this transaction in the January declaration, they must submit an amended VAT declaration for January in March.
In January 2024, the principal amount of the electronic invoice presented to us was paid to the bank account, while the VAT amount was paid to the VAT deposit account. Although our right to reclaim the paid VAT arose in January, we applied in March. In this regard, we would like to clarify whether there has been any violation of the law.
The State Tax Service under the Ministry of Economy has stated that Article 166 of the Tax Code determines the time of transactions subject to VAT. Article 174.1 states that the amount of VAT to be paid to the budget for the reporting period is determined by the difference between the amount of tax calculated on the taxable turnover in accordance with Article 173.1 of this Code and the amount of tax to be reclaimed in accordance with Article 175 of this Code.
The taxpayer must carry out the reclamation in the month when this right arose. Since the taxpayer made payments based on the electronic invoice for January, they must reflect these transactions in the VAT declaration for that month. If the taxpayer has not accounted for this transaction in the January declaration, they must submit an amended VAT declaration for January in March.