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A vat registered client company has taken over another company. Significant legal and due diligence costs were incurred. Can a vat input credit be claimed on the acquisition costs when purchasing a subsidiary?

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Posted by (Questions: 20, Answers: 10)
Asked on 5 September 2018 10:55 pm
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Read VATCA 2010 s 59(2): "in computing the amount of tax payable by an accountable person in respect of a taxable period, that person may, in so far as the goods and services are used by him or her for the purposes of his or her taxable supplies... deduct". So the question is... is the expenditure incurred for the purpose of the purchaser's taxable supplies? if it is, it is deductible.
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Posted by (Questions: 5, Answers: 4946)
Answered on 22 September 2018 4:50 pm