VAT Payroll
VAT- general tax on the consumption of goods and services that is levied at all stages of the economic
circuit from producer to final consumer. If VAT on acquisition is higher than VAT corresponding to taxable
transactions, taxable person may claim its refund.
2432- VAT Deductible- VAT to be used on purchases. Register on Debit (assets).
2433- VAT on Supply (charged)- to be used on sales and services. Register on Credit (liabilities).
2434 – VAT Adjustments- correct previous cases in case of Returns; Discounts and Credit notes.
VAT- general tax on the consumption of goods and services that is levied at all stages of the economic
circuit from producer to final consumer. If VAT on acquisition is higher than VAT corresponding to taxable
transactions, taxable person may claim its refund.
2432- VAT Deductible- VAT to be used on purchases. Register on Debit (assets).
2433- VAT on Supply (charged)- to be used on sales and services. Register on Credit (liabilities).
2434 – VAT Adjustments- correct previous cases in case of Returns; Discounts and Credit notes.
