Disallowable expenditure and Disallowed VAT: Difference between pages

Latest revision as of 13:50, 15 July 2021

VAT.

Input tax that can never be recovered, for example Input tax on business entertaining.

Also known as Blocked input tax.

@@ Line 1: / Line 1: @@
-''Tax''.
+''VAT.''
-Amounts paid out by a taxpayer which are not eligible for tax relief.
+Input tax that can never be recovered, for example Input tax on business entertaining.
-Such amounts charged to accounting profits would be added back to the accounting profits, in the calculation of taxable profits in the taxpayer's tax computation.
+Also known as Blocked input tax.
-For this reason they are sometimes known as 'addbacks'.
 == See also ==
-* [[Expenditure]]
+*[[Input tax]]
-* [[Tax computation]]
+* [[Value Added Tax]]
-* [[Tax relief]]
 [[Category:Accounting,_tax_and_regulation]]