The agency clarifies: 1) the definitions of “research centers” and “research and development contract;” 2) that payments made by private undertakings to research centers for R&D activities carried out under research and development contracts are subject to VAT as of Jan. 1 because the activities constitute a taxable “service;” and 3) these services are subject to VAT corresponding to the invoice issued in the period when payment is received or made available, regardless of whether the …
Source: news.bloombergtax.com
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