Re: CashBack from Supplier VAT
- From: Troy Steadman <troysteadman@xxxxxxxxxxx>
- Date: Tue, 22 Apr 2008 11:09:06 -0700 (PDT)
On 22 Apr, 18:53, "Vass" <write2mark...@xxxxxxxxxxx> wrote:
We buy from a wholesaler (WHS)
HP (the supplier to the WHS) have a promotion runnng, whereby
we send copies of our purchase invoces from WHS to HP for a cashback.
NOw, we have claimed the vat back on the WHS invoice, but there is no docs
from HP
for the cashback, HP claim we should account for our own tax liabilites
So, do I invoice HP for the cashback, knowing full well HP will not process
the invoice their end?
Can I self bill (in this case credit)?
I'm sure I'm in for the vat here, but Customs are clueless too at the mo,
will coe back to me in a week!
TIA
--
Vass
Before you do anything, do the sums on the the original payment and
see if you paid the VAT on the Cash Back.
If I offer you a "Cash Discount" - a discount for paying promptly - I
knock the discount off before I calculate the VAT - it makes no
difference whether you take advantage of the discount or not.
This convoluted arrangement may concievably fall under that heading.
.
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