His company's financial records will show a VAT-free purchase, which goes where - into expenses, resale? and his company VISA statement will show a credit against that purchase which arrives from heaven?But how can they track it if he pays back the credit card with his own funds so there is no payment record from his bank to visa company.
what i mean by illegal is that is seems too good to be true, its like VAT evasion if there is such a word!!
His company's financial records will show a VAT-free purchase, which goes where - into expenses, resale? and his company VISA statement will show a credit against that purchase which arrives from heaven?
Evasion / avoidance, who knows?
By implication he used the company VISA card, I think.But how can they track it if he pays back the credit card with his own funds..
Intrastat reporting.Well you have to provide the EU company with your VAT number.
I suppose they have to declare all NON VAT sales and he may get tracked that way somehow......
VAT evasion if there is such a word!!
Well, the Revenue do employ large numbers of VAT inspectors...But is this enforced or checked????
In such cases, the onus is on the trader to satisfy themselves as to the identity and VAT particulars of the customer. The trader is financially responsible to the Revenue for the cost of any VAT evaded fraudulently by customers. For this reason, some firms like B&Q refuse to process "intra VAT" transactions unless the customer produces ID & documentary evidence of VAT registration.What happens if some takes you VAT number, like identity thieft?
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