Input VAT refunds

The Ministry of Finance issued an official letter on June 13 stating that businesses will have to refund input value added tax of fixed assets that were already deducted VAT if previously they used these fixed assets for producing and trading goods, or services subject to VAT, but now they have switched to using the assets for producing and trading goods and services that are not subject to VAT or other purposes.
[Official Letter 1820 TCT/DNK dated June 13, 2005]

 

Category: Legal