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With the huge increase in medical treatment abroad it is worthwhile knowing something about the VAT side of this.  VAT laws current provide certain tax relief for people who suffer from chronically illness or disabilities. When it was introduced into this country it was agreed that disabled people should not have to pay VAT when buying items designed solely for their use, or when having equipment...

Keeping out of VAT trouble, firstly the best thing is to understand the basics of the paperwork required. The second step is to ensure accurate financial records are maintained and many types of accounting software and bookkeeping software can assist by at the very least producing a required audit trail to support the financial figures entered on the quarterly vat tax return.

To determine the need...

A lot of property owners make it a point that the city assessor would not be coming into their building. This is because a lot of these owners have had some work done in the interior of the building. However, if you have not done any extensive work, then you probably would want to invite him or her inside. Make sure that you would be available to walk around the property together with the assessor...

There seems to be some confusion regarding paying VAT on the purchase of property after Cyprus takes on the Euro beginning in 2008. Many people believe that starting in 2008 all property purchases will have Value Added Tax added to it, which is not the case. Any purchase of property that received its’ planning permit prior to May 1, 2004 will not have VAT apply and every property that has applied ...

The Telegraph reported that a Labour think-tank is considering VAT on School Fees. As we all know these items are leaked deliberately to gauge opinion to the policy within the general voting public. It should be well known that not many Labour supporters will have their children at private school, the vast majority will be attending public schools.

However one small question pops into my mind. ...

UK business is set to potentially lose tens of millions of pounds every year in reclaimed VAT as a result of the European Commission’s decision to press ahead with a Court hearing designed to enforce its 6th VAT Directive.

The EC Advocate General’s decision to ask the European Court to declare the United Kingdom in violation of the 6th VAT Directive, potentially leaves UK business unable to re...

The issue of refund of Value Added Tax (VAT) paid by Pakistani exhibitors to Germany at trade fairs there remains unclear as some exporters get the amount back while a majority is denied the facility.  For a vat reclaim company visit Global Tax Reclaim

Pakistani exporters of various goods, who participate in numerous international trade fairs in Germany, pay VAT on the construction of their stalls...

VAT was introduced in the year 2005 in India. VAT (Value added Tax ) is levied on all goods & services .VAT will replace the present sales tax in India. VAT, in simple terms, is a multi-point levy on each of the entities in the supply chain with the facility of set-off of input tax - that is, the tax paid at the stage of purchase of goods by a trader and on purchase of raw materials by a manufactu...

Banks, Insurance companies and financial institutions are VAT exempt, generally for most products they supply. Great you would think for the consumer, however it is not as they cannot reclaim any of the VAT they pay on services or goods. Therefore it is all part of the cost base on which the consumer is charged.

This long standing practice puts European banks at a price disadvantage to non Europ...

Large amounts of value added tax (VAT) on purchases made in Europe go unclaimed by companies each year. The main reason is that many companies are unaware they can reclaim VAT on purchases made outside their own countries. Another obstacle is the difficulty in making a claim. Such factors as language and bureaucratic complexities can make the whole procedure seem not worth pursuing. Fortunately, s...

Mary Harney has got herself into a little bit of hot water in Ireland over a condom and VAT. The Minister for Health in Ireland Mary Harney’s claim that EU legislation prevents the Government from reducing VAT on condoms is complete rubbish.

She made the gaff yesterday while unveiling of the new five-year strategy of the Crisis Pregnancy Agency. And her office took, it seems, until this morning...

Most companies do not seem to be aware of the possibility of reclaiming VAT in some circumstances.  Firstly if your company is based outside of the European union and you pay EU VAT for any goods or services then you can reclaim that VAT.  Now just because you can do it does not mean that it is an easy process, and this is why there are many companies set up to reclaim VAT on your behalf.

Secondly...