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Vorsteuervergütungsverfahren

English translation: deduction of input tax

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Vorsteuervergütungsverfahren
English translation:deduction of input tax
Entered by: Ralf Lemster
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18:26 Dec 18, 2001
German to English translations [PRO]
Bus/Financial
German term or phrase: Vorsteuervergütungsverfahren
context: intra-group apportionment of costs

"Firma X erbringt Leistungen an die anderen beteiligten Unternehmen, die der Umsatzsteuer unterliegen. Regelmäßig erfolgt Erstattung der Umsatzsteuer im Vorsteuervergütungsverfahren, aber Einzelfallbetrachtung erforderlich. Prüfung des leistungsortes erfolgt in Abstimmung der Finanzverwaltung."

I'm not really sure if they're talking about internal reimbursement or not, but was wondering if anyone had come across this term before in any context.
TIA, Beth
Beth Kantus
United States
Local time: 02:13
deduction of input tax
Explanation:
"Vorsteuer" is VAT paid by a merchant or company who is also selling VATable goods or services. In effect, VAT is only paid on the difference between the buying and selling price (hence the name of "value added tax"), whereas only the end consumer pays VAT in full.
Selected response from:

Ralf Lemster
Germany
Local time: 08:13
Grading comment
Thanks!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5tax prepayment deductions
Alexander Schleber
4deduction of input tax
Ralf Lemster
4 -1prior-turnover-tax method
Kathi Stock


  

Answers


3 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
deduction of input tax


Explanation:
"Vorsteuer" is VAT paid by a merchant or company who is also selling VATable goods or services. In effect, VAT is only paid on the difference between the buying and selling price (hence the name of "value added tax"), whereas only the end consumer pays VAT in full.


    Own experience running a business
Ralf Lemster
Germany
Local time: 08:13
Native speaker of: German
PRO pts in pair: 2684
Grading comment
Thanks!
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1 hr   confidence: Answerer confidence 5/5
tax prepayment deductions


Explanation:
I think they are talking about a procedure by which tax prepayments can be deducted from the applicable taxes owed. This is a procedure that often includes interest payments and reduced tax rates, on that part of the tax prepaid.

HTH

Alexander Schleber
Belgium
Local time: 08:13
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in pair: 2340
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16 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
prior-turnover-tax method


Explanation:
that is the definition my dictionary gives me.

Kathi Stock
United States
Local time: 01:13
Native speaker of: Native in GermanGerman
PRO pts in pair: 789

Peer comments on this answer (and responses from the answerer)
disagree  sonni: Why prior?
2 days 22 hrs
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