Doing business with USA member states
in Business, Accounting & Taxes ·
Has anyone else taken a close look at Article 133 of the Regulations:
(1) A taxpayer is entitled to an input tax credit during the accounting period in which the goods were received or the services were rendered, provided they have also received an invoice containing all the required data specified in Section 79 of the Tax Code.
Based on this—if you receive your shipment in May, but the invoice doesn't land on your desk until June, you claim that input tax credit in June (i.e., in the June filing).
Interesting...
The key takeaway here is the timing: it’s about when you actually RECEIVE the invoice, not just when it was issued (which we usually assume is the date printed on the document).
(1) A taxpayer is entitled to an input tax credit during the accounting period in which the goods were received or the services were rendered, provided they have also received an invoice containing all the required data specified in Section 79 of the Tax Code.
Based on this—if you receive your shipment in May, but the invoice doesn't land on your desk until June, you claim that input tax credit in June (i.e., in the June filing).
Interesting...
The key takeaway here is the timing: it’s about when you actually RECEIVE the invoice, not just when it was issued (which we usually assume is the date printed on the document).