Frequently Asked Questions on VAT

General

What are transitional provisions?

Continuous and non-continuous supply

What is a continuous supply?

What are some examples of continuous supply?

What is one-off or non-continuous supply?

How is the payment processed for one-off supply?

What are some examples of one-off supply?

Transitional rules for supply of goods and services

What is the date of supply for a non-continuous supply of goods made before January 1, 2018?

What if there is an adjustment to a non-continuous supply made before January 1, 2018?

What is the date of supply of a continuous supply of goods or services made after January 1, 2018?

What if an invoice has not been issued or payment has not been received within 12 months after the supply commenced?

What are the transitional rules for invoices or receipts issued  before January 1, 2018?

Transitional rules for long-term contracts

What is the impact of long-term contracts on one-off supply of goods or services completed before January 1, 2018?

What is the impact of long-term contracts on one-off supplies of goods or services that take place on or after January 1, 2018?

What is the impact of long-term contracts on continuous supplies of goods or services?

Transitional rules for contracts

What are the transitional rules for contracts under the VAT regime?

What are the requirements for a contract to qualify for transitional provisions?

What is the timeline for treating contracts as zero-rated?

What is grandfathering of contracts?

Should suppliers obtain certification from their customers to deduct or recover VAT?

What information needs to be included in the certificate provided by the customer for the deduction or recovery of input VAT?