Stoppage – Vat Return and Accounting Practice in Re-Delivery of A Delivery Subject to Stoppage

19708

Value Added Tax (VAT) is calculated based on the goods and service delivery costs realized by the corporations. Unless this VAT is subject to stoppage, seller takes the VAT from the purchaser in delivery of goods or services and then the corporate pays this amount to the tax office or sets off through the VAT he paid for his service or goods procurement. However, in some cases, Ministry of Finance holds not those providing the delivery or service but those purchasing or procuring the goods or services responsible partly or fully for the tax calculated based on the delivery or service fee. The purpose of this paper is to reveal VAT stoppage, accounting entries with regards to the corporation accepting the delivery and re-delivering it, VAT set off and VAT return in the re-delivery of a delivery subject to stoppage pursuant to General Communiqué of VAT Serial No 117.

395

Value Added Tax , partial stoppage , full stoppage , value added tax refund

Gaziantep University Journal Of Social Sciences

412

Gaziantep University Journal Of Social Sciences