We did not record a big purchase made last year for VAT and we would like to claim that this year? What is the duration allowed, we have invoices and everything required, it was a genuine mistake that we did not record it for filing.
Appreciate any laws/documentation regarding this.
Guidance Sought on Recording Late VAT Claims: Revise Monthly or Include in Annual Return with All Documentation A participant inquired about recording a significant purchase for VAT purposes a year after the transaction. They sought guidance on the permissible duration for such claims, noting they have all necessary documentation and that the omission was an error. One respondent advised that the purchase should be reported in the year it occurred, suggesting either revising the monthly return for that period or including it in the annual return for the relevant year. Another respondent concurred, recommending filing a revised return in accordance with the applicable VAT regulations. (AI Summary)
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