- In the first years after starting a business, significant purchases of goods or services are likely to be made
- These purchases may result in a substantial VAT credit, which can be refunded under certain conditions
- Purchases made before the start of business operations and aimed at generating taxable transactions generally allow for VAT deduction
- The purchase of goods and services necessary for the future revenue generation is considered inherent to the business operation
- The right to deduct VAT arises from the moment of acquisition of goods and services, even if they are not yet used in the business
- The key factor is that the goods and services are intended for use in operations eligible for VAT deduction.
Source: eutekne.info
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
