MTCA VAT transitory measures upon change in VAT treatment of supplies

The MTCA has published guidelines detailing the transitory measures which apply when determining the VAT treatment of supplies made during the period of transition upon a legislative change to the classification of supplies from taxable to VAT exempt. The guidelines also set out the method of input VAT recovery to be adopted in circumstances where purchases are attributable in part to supplies which were VAT exempt (without credit) and which have become taxable at a subsequent point in time.

View the guidelines here.