- The TEAC has changed its criteria regarding the deduction of VAT by universities in basic research activities
- The USC filed complaints against VAT settlement agreements for the years 2021 and 2022
- The TEAC ruled in favor of the USC, allowing them to deduct 100% of VAT on acquisitions related to basic research
- The decision was based on the argument that basic research is a business activity subject to VAT
- The TEAC cited recent Supreme Court and National Court rulings supporting universities’ right to deduct 100% of VAT in basic research activities
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.
