Part 12Supplementary provisions
Chapter 2Additional VAT liabilities and rebates: interpretation, etc.
547“Additional VAT liability” and “additional VAT rebate”
(1)
“Additional VAT liability” means an amount which a person becomes liable to pay by way of adjustment under the VAT capital items legislation in respect of input tax.
(2)
“Additional VAT rebate” means an amount which a person becomes entitled to deduct by way of adjustment under the VAT capital items legislation in respect of input tax.