CHARITIES GIVEN VAT REFUND BOOST

摘要

A number of VAT refunds for charities were introduced in Finance Bill 2015. These include provisions for charities providing palliative care and also for medical courier charities. The Finance Bill 2015 provides for refunds of the VAT that charities providing palliative care incur on or after 1 April 2015 in relation to their non-business activities. For deductible VAT relating to foreign branches, supplies made by foreign branches will no longer be taken into account when calculating how much VAT incurred on overhead costs can be deducted. This affects partly exempt businesses from the beginning of their next partial exemption tax year falling on or after 1 August 2015.