Council Directive 2006/112/ECShow full title

Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax

Article 183U.K.

Where, for a given tax period, the amount of deductions exceeds the amount of VAT due, the Member States may, in accordance with conditions which they shall determine, either make a refund or carry the excess forward to the following period.

However, Member States may refuse to refund or carry forward if the amount of the excess is insignificant.