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Selling to a bank - VAT costs to them?

  • 23-06-2020 8:45am
    #1
    redman
    Registered Users, Registered Users 2 Posts: 1,586 ✭✭✭


    Hi

    If I am selling to an Irish bank, am I right to understand that they (the bank) cannot reclaim the VAT and thus when they are budgeting they have to consider the inc vat price and dont care about the ex VAT price

    Thanks


Comments

  • #2
    thegolfer
    Registered Users, Registered Users 2 Posts: 346 ✭✭thegolfer


    redman wrote: »
    Hi

    If I am selling to an Irish bank, am I right to understand that they (the bank) cannot reclaim the VAT and thus when they are budgeting they have to consider the inc vat price and dont care about the ex VAT price

    Thanks

    Depends on what you are supplying and the activity the bank is undertaking. They are VAT registered for some activities and exempt for others. They may be in a position to claim back a portion of the VAT costs.


  • #3
    redman
    Registered Users, Registered Users 2 Posts: 1,586 ✭✭✭redman


    much appreciate the feedback thank you!


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