Tax legislation gives individual entrepreneurs and some types of organizations eligible for exemption from VAT.For example, Article 145 of the Tax Code provides for tax exemption under the following conditions:
- first, revenue in the last 3 months must not be more than two million rubles, not including VAT;
- secondly, to take advantage of grants the right to exemption from VAT may only organizations and businesses that implement nepodaktsiznye products, iedo not sell fuel, tobacco and alcohol products.
However, the right to exemption can use the IP, selling excisable goods, but leading separate records related to sales nepodaktsiznymi and excise goods.
Taxpayers should take into account that during the liberation of the state will still have to repay the amount of the tax that had been taken previously deducted on services, goods or works acquired for performing operations which are taxed, but not used for these operations.
VAT exemption IP: the procedure for obtaining the right
to exercise their right to exemption from VAT businesses need to start your tax notice, located at their place of registration.The form of notification is determined by the Ministry of Finance.By this document, you need to attach documents to qualify for exemption.It should provide for organizations extract from the balance of the sales ledger, account of expenses incurred and the revenue and business operations for the SP, a copy of the magazine issued and received invoices.
Entrepreneurs who have switched to a common system, as the supporting documents for the right to exemption from VAT must provide an extract from the book of expenses and income.
above mentioned documents must be submitted no later than the 20th day of the month, from which emerged the right to exemption.
Exemption from VAT: termination of the right
taxpayer at will may be forced to give up or lose the right to exemption from VAT.
Taking this decision, the entrepreneur should be aware that this regime would have to use at least one year.Already at the end of a given period may be granted in the tax notice of desire to terminate the exemption from the tax, or the decision to extend the operation for another year.The notification should be accompanied by documents showing that the revenues in the last quarter did not exceed 2 million rubles.
This notice along with supporting documents should be provided no later than the 20th day of the month following the calendar the 12th month of eligibility.If you do not, then the taxpayer will be fined.
entrepreneur may lose the right to exemption from VAT.This can happen in case of violation of any condition of its receipt (revenue more than 2 mln., Or trade in excise goods).Losing the rights to release the taxpayer put a number of problems and issues that will be associated with the recovery of taxes unpaid to the budget, the application of penalties and accrued interest.
VAT exemption SP: benefits
individual entrepreneur, realizing their right to exemption from VAT, acquires the ability to obtain additional profit.For example, if the price of goods to release 236 rubles, the taxpayer can get the same money, but excluding value added tax.
However, there are some features.Some IP, which also operate without VAT can be profitable to cooperate with other companies, as they will lose the ability to take on the acquisition of goods VAT deduction.
