The Finance Act 2021 herein referred to as “The Act” was assented to on the 29th June 2021
The Finance Act has moved exported taxable
services from Zero rated to exempt. The exemption of
such supplies renders the taxpayers unable to
claim input VAT incurred in providing such
services hence no credits and thus no refunds.
Further an amendment provides clarity that in the case of a
registered person importing a service they will not
be required to account for reverse charge VAT if
the registered person is entitled to fully claim
input tax.
Source: taxwise-consulting.com
