Austria MOF Clarifies Correct Period for Deduction of Input VAT

The Austrian Federal Ministry of Finance Aug. 23 posted online a decision clarifying the correct period for the deduction of input VAT. The tax agency requested invoices from the taxpayer to support declared input tax and ultimately issued a notice for additional tax based on reduction of input tax. The agency found input tax could only be deducted in the assessment period in which all deduction conditions were met, and there was no choice to claim a deduction for other periods. The taxpayer argued entitlement to deduct input tax for invoices received after the turn of the year, and explained ...