Article 55, subject to Article 56, outlines the conditions for a Taxable Person to deduct recoverable Input Tax via a Tax Return. The deduction is permissible in the first Tax Period where specific conditions are met. These include receiving and retaining a valid Tax Invoice or equivalent import documentation for goods and services, as specified by the Decree-Law and its Executive Regulation. Furthermore, the Taxable Person must have paid the consideration. If the recovery is not claimed in the relevant period, it may be included in a subsequent Tax Return. The Cabinet may also prescribe additional conditions.
Title 7 - Calculation of Due Tax
Chapter 1 - Due Tax for a Tax Period
Article 55 Recovery of Recoverable Input Tax in the Tax Period
Continue Reading
Access Full Content
You're viewing a preview of this document. Please log in to unlock the complete content, annotations, and research tools.
Click here to view details of the free plan and the subscriptions we offer.