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Glossary of the 1993 SNA - Definition of Term

TermVAT - deductible
DefinitionDeductible VAT is the VAT payable on purchases of goods or services intended for intermediate consumption, gross fixed capital formation or for resale which a producer is permitted to deduct from his own VAT liability to the government in respect of VAT invoiced to his customers.
Paragraphs6.209.
 
It is acknowledged that this glossary uses descriptions of the OECD glossary of statistical terms, the Glossary of the System of National Accounts 1993 and the UN classifications registry.
 
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