- The TEAC has established a criterion for determining when incorrectly charged VAT amounts should be considered as received for the purpose of refunding them to the person or entity that incurred the charge.
- The criterion is that the incorrectly charged amounts must be included in the self-assessment submitted by the person or entity that charged them, regardless of the result of the self-assessment.
- This criterion applies as long as the declared deductible VAT amounts are supported or paid by that person or entity.
- If the deductible VAT amounts are not supported or paid, the incorrectly charged amounts cannot be considered as received simply because they are included in the self-assessment.
- In such cases, the actual amount received must be determined on a case-by-case basis.
Source: audiconsultores-etlglobal.com
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.
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