- 6 Marks
Question
Where a taxable person does not have a tax invoice that provides evidence of the input tax paid, the Commissioner-General may allow a deductible input tax in the tax period in which the deduction arises to a taxable person under certain conditions.
Required:
State THREE (3) conditions that must be satisfied before a taxable person without a tax invoice may be allowed an input tax deduction. (6 marks)
Answer
- The taxable person took all reasonable steps to acquire a tax invoice.
- The failure to acquire a tax invoice was not the fault of the taxable person.
- The amount of deductible input tax claimed by the taxable person is correct or verifiable
- Tags: Commissioner-General, Tax deduction, Tax Invoice, VAT Input Tax
- Level: Level 2
- Topic: Value-Added Tax (VAT), Customs, and Excise Duties
- Series: AUG 2022
- Uploader: Theophilus