VAT

Charging VAT to Charities
How can you charge VAT to charities?

A VAT-registered business can sell certain goods and services to charities at the zero or reduced rate of VAT. As it can be quite complex for charitable organizations, we have prepared a guide to help you understand VAT implications of running a charity. Please note that it is your responsibility to check whether the charity is eligible and apply the correct rate. Are charities…

Claim VAT for Entertainment Expenses
When can you claim VAT for entertainment expenses?

Assuming your business is VAT registered and not partly exempt, input tax can be claimed on your expenditures. However, entertainment expenses are subject to a specific tax block and the scenario below demonstrates this concept clearly. Scenario While working on client site, John, an audit partner in an accountancy firm often visits restaurants for lunch. During this time, he is usually accompanied by two…

What is Intrastat and what should you know about it?

What is Intrastat? Intrastat is a system that collects statistics on the trade in goods between European Union (EU) member states. Please note that supply of services is excluded from intrastat. Which businesses should submit Intrastat? All VAT-registered business trading goods with other EU member states are supposed to make certain declarations and submit intrastat. What determines the amount of information required for intrastat…