If a company will use a fixed asset (VAT has been payed for this asset) in an operation that is exempt without the right to deduct, can the company considered payed VAT for this asset as an expense? (For Profit purposes)
I believe it should be able to do so and people tell me it can because company can no longer use this VAT for VAT deduction purposes.
However nobody has actually told me why, does IAS says something about this ?
Thank you very much for your time
I believe it should be able to do so and people tell me it can because company can no longer use this VAT for VAT deduction purposes.
However nobody has actually told me why, does IAS says something about this ?
Thank you very much for your time
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