noun
COLLOCATIONS FROM CORPUS
■ NOUN
act
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All references to sections and schedules are to the VAT Act 1983 unless otherwise indicated.
increase
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The VAT increase was expected to cost consumers some R2,000 million a year.
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Everyone has had to pay VAT increases and increased national insurance contributions.
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Very recently, however, the VAT increase from 8 percent to 15 percent has made price inflation unusually steep.
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However, it argues that VAT increases will be required whichever party is in power if public borrowing is to be reduced.
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He said the extra help would be given from April next year, shortly before the VAT increase is imposed.
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This could cost up to £1 billion, defeating much of the purpose of the VAT increase as a revenue-earning measure.
number
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But Customs have agreed that the requirement to obtain overseas customers' VAT numbers need not be implemented until 1 July 1993.
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The survey said that fewer than 40% of companies had collected the VAT numbers from fewer than half of their customers.
purpose
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For VAT purposes , a company is treated as a person.
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A business can apply to register for VAT purposes even if the value of its taxable supplies is below the limit.
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The distinction between capital and revenue is generally irrelevant for VAT purposes .
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If all the goods and services which the business supplies are exempt, then the business can not register for VAT purposes .
rate
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It was interesting to read in the Daily Express about Labour's plan for a luxury VAT rate .
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The VAT rate to be applied to works of art is also a matter of debate.
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This VAT rate increase would raise about 10,000 million, amounting to well over 10% of our 30% standard rate of tax.
registration
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Mr Major also raised the threshold for VAT registration by £1,800, to £24,500, and simplified registration requirements.
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It is not usually advisable for Newco to adopt the vendor's VAT registration number.
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Firstly, the VAT registration threshold is to be increased from £36,600 to £37,600.
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David reminds us that the threshold for VAT registration is raised from £25,000 per year turnover to £35,000.
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For that reason we ask you herewith to supply your VAT registration number.
return
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Timing differences in the recording of transactions may mean that VAT return statistics and the more detailed Intrastats do not agree.
EXAMPLES FROM CORPUS
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A pensioner will become eligible to pay VAT on any income above £57.15 per week.
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Consider the differential treatment of capital allowances, stamp duty, corporation tax and VAT .
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How much VAT must you pay?
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If not possible, however, a tenant should try to avoid paying VAT on the contribution.
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The Chairman emphasized that VAT is a very serious problem which is being tackled with vigour.
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They tell readers nothing about the arguments in favour of the extension of VAT .
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Though schools could reclaim VAT , universities and students could not, nor could parents buying books for children.