Vat

[lanka100]

can somebody explain pls what is the vat invoice regarding a vehicle and how can somebody get it and from whom it can get

[Sylvi]

  On 11/24/2010 at 4:22 PM, lanka100 said:

can somebody explain pls what is the vat invoice regarding a vehicle and how can somebody get it and from whom it can get

lanka100'

According to my knowledge VAT means Value Added Tax.At the time of import for a vehicle importer pays a tax as VAT.

Importers sale price includes VAT added to the total selling cost with his profit.

You can request the importer when he sell the Vehicle to give a detailed invoice how much he had paid as VAT when he imported the Vehicle.

Most importers Give a separate invoice for VAT amount paid at the time of import.

If I am wrong on the above others who read this please correct me.

Sylvi Wijesinghe.

[lanka100]

Thank u very much 4 replyin me

[VVTi]

Unlce Sylvi gave a reasonable answer for a change...

That's what it is... if you are registered for VAT you can use that for your refund later when you file for Tax returns. Good luck with that though....

[Sylvi]

  On 11/25/2010 at 11:19 AM, VVTi said:

Unlce Sylvi gave a reasonable answer for a change...

That's what it is... if you are registered for VAT you can use that for your refund later when you file for Tax returns. Good luck with that though....

VVTi,

Unlce VVTi

Please note Topic starter only wanted to know what is VAT not to get a refund.

I answered what is the meaning of VAT not to get a refund of VAT.

You are writing out of the topic.

YOU WANT ANOTHER?

Sylvi Wijesinghe

[Sifaan]

  On 11/25/2010 at 11:19 AM, VVTi said:

That's what it is... if you are registered for VAT you can use that for your refund later when you file for Tax returns. Good luck with that though....

not quite as simple as that... even if you paid 20% VAT you can only claim 12% as input VAT.

and even that depends on what the vehicle is for... usually for commercial vehicles (+ cars if you are taxi company) you can claim upto 50% (i.e. 6%) as input VAT

[isurujosh]

entertainment makes a come-back

[NPP]

[Clark's son]

Is it profitable to get a vat registration only for the car

What is the procedure