Read our publication to learn our approach to reviewing bad debt.
Most VAT registered businesses are required to account for output VAT in the same tax period when they have issued an invoice to their customer, regardless of whether the invoice is paid. If the invoice remains unpaid, a bad debt arises which, in many European jurisdictions, may be subject to relief – VAT credited back to the business.
What is VAT bad debt relief review and why is it important?
At Grant Thornton we understand how important cash flow is for your business. By conducting a VAT bad debt relief review, we will help you identify whether your business is due VAT back on unpaid invoices.
The bad debt relief rules do vary by tax jurisdiction. Together with our trusted network of member firms we have analysed the applicable rules in every country and we are here to help you.
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