Value added tax is an important part of the budget revenues, therefore, is constantly under the scrutiny of the tax authorities.
Aerobatics for the chief accountant is considered to be the ability to calculate and optimize the tax.
For more information about the input VAT
Input VAT - is the VAT, which is paidprovider to pay for goods or services. At the conclusion of the contract, as a rule, immediately raises the question of VAT works contractor or not. Firms who are themselves on the overall tax system more profitable to work with the same suppliers as input VAT can be deducted from the tax payable on-budget. Input VAT vendor makes to the buyer in addition to the value of goods and services. Organizations and individual entrepreneurs who work without VAT, tend to have a lower price for similar goods and services.
For tax purposes, you can use the input VAT as follows:
1. Took refundable. At the end of the reporting period (one quarter) takes the tax invoiced to customers during the period (shipping), and subtracted from it the VAT already paid or received to the account of the supplier. The difference is paid to the budget. If the input VAT would be greater than the output VAT, it is possible to return from the budget.
2; To consider in the cost of goods or services (regulated by paragraph 2, Article 170 of the Tax Code.).
3, Add to costs that reduce the income tax. (Adjustable to claim 5, Art. 170 of the Tax Code).
Documentary evidence of input VAT
The document, which confirms the input VAT - thisinvoice. This document should be addressed specifically to the buyer for this in the "buyer" line must indicate the correct name and all the details. The invoice is the first that the request with tax audits, so the document must be perfect. There are various guidelines on how to properly make out an invoice. Blank fields or sections with errors, misspellings - are not allowed. This document has been reviewed and the amount of VAT is not recoverable, and it will lead to high fines and arrears. For VAT frauds with possible criminal liability of officials.
When applying the simplified VAT paid to suppliers of the tax system can be expensed in the presence of supporting documents.
According to the value added tax must bereport. The declaration shall once a quarter - before the 20th day of the month following the quarter. On January 1, 2014 the document sent to the tax authorities can only in electronic form. In the same period, it is necessary to calculate and pay the advance payment of VAT.