TAXATION AND ACCOUNTING ASPECTS REGARDING VAT CANCELLATION TO ENTITIES WITH VAT CODE CANCELED

Abstract

Economic entities may register, for VAT purposes, before or after the start of economic activity. In practice, for taxable persons registered for VAT purposes, situations may arise that lead to the cancellation of the VAT code. These taxpayers may be re-registered as value added tax payers if they meet certain conditions. That is why we have presented the fiscal and accounting effects regarding the cancellation of the VAT code, on the date of cancellation, in the period in which the code is canceled as well as from the date of re-registration for VAT purposes. The case studies present the situation of a taxpayer, supplier, in the three periods, but also the effects on the taxpayer-client of the person who has the VAT code canceled and subsequently regained it.

Keywords

• vat
• accounting and fiscal apects
• vat cancellation
• vat code canceled