VAT Credit, Refund, and Formalities: Lessons from the ’39 Promenade’ Case

The VAT credit represents an excess of deductible VAT compared to the VAT collected by a company. This credit can either be carried over to subsequent periods to offset a future VAT debt, or reimbursed by the tax authorities. However, to maintain this credit, the company must strictly adhere to the reporting requirements. The lack of rigour in this area can have significant consequences, as illustrated by the “39 Promenade” case, where a company lost its VAT credits due to deficiencies in its tax returns.

Source: mathez-formation.fr

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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