"invoiced" - 1 õppematerjal

Business peciliarities in Ukraine and Bealrus

contractual terms these penalties include VAT at the above rates. VAT mechanism The invoice method of calculating VAT liabilities is applied in Belarus. The VAT liability of a taxpayer is calculated as the product of the tax base and the tax rate. VAT payable to the authorities is determined as the difference between VAT calculated by taxpayers and charged to customers (output VAT) and VAT paid to suppliers of goods (work or services) (VAT invoiced to taxpayers or input VAT), which is related to production/sales activities, or other VAT-able transactions. If input VAT exceeds output VAT, the payer is not obliged to pay VAT, and the difference is carried over, without penalty, and is either deducted from the tax liability in the next period, or refunded to the payer. Payments and filing tax returns The standard VAT period is a calendar year; the VAT reporting period is a calendar month or a calendar quarter at the taxpayer's own choice