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Frequently Asked Questions on VAT

Last updated on 06 April, 2018


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How are contracts treated under VAT?

Contracts not anticipating VAT are treated as zero-rated supplies until either the expiry/renewal date of the contract or December 31st 2018 (whichever is earlier). The following conditions must be met:

  • The provided contract was signed before May 2017.
  • The taxable supplier is entitled to deduct the full input tax for the supply of goods or services or refund of the tax.
  • The customer provides a written confirmation to the supplier that the full input tax can be deducted from the supply.
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