Taxable Person

(redirected from Taxable Persons)
Also found in: Legal.

Taxable Person

The person or company from whom a government collects a value-added tax. A value-added tax is a tax on the new value of a good or service at each stage of the production process. The taxable person is thus assessed a tax on the value added to the product, rather than the total value of the sale. The taxable person is always the seller, though the tax is almost always passed on to the customer in the form of a higher price.
References in periodicals archive ?
Specifically, TEI would welcome EU-level rules that would permit taxable persons to submit amendments to their returns rather than resubmitting the entire return.
It is mainly about the decline in Belgian taxable persons, the number of foreign bills is limited.
According to the EC, the rules in Bulgaria on the conditions for refunding VAT to taxable persons subject to a tax audit discriminate against persons involved in intra-Community transactions.
Some Member States, however, do not apply the EDM decision and hence the auxiliary transaction will affect the input tax recovery ratio of otherwise fully taxable persons.
This means that taxable persons in the EU can contest discrepancies between the Directives and local implementation.
Article 9(2)(e) provides an exception for certain services (such as assignments of copyrights or patents, advertising, consulting, banking and other financial transactions) performed for customers outside the EU or for taxable persons within the EU but not in the same country as the supplier.
She explained that the measures would be developed in line with the different types of taxes and taxable persons.
Contract notice: Register of taxable persons and other information systems maintenance and development services.
The existing EU legal landscape (including the Implementing Regulation prior to the recent amendments) has resulted in a patchwork of inconsistent rules for determining which taxable persons must declare the VAT associated with supplies of electronic services.
It says that taxable persons affected by the change of the standard VAT rate must -- on the eve of the VAT increase - go through a stock-taking of their business which includes a quantitative measurement and assessment.
Canvass of districts for taxable persons and objects.
Then last June the Legislature, relying on the advice of the commissioner of revenue administration, enacted a far-reaching amendment that removed all partnerships, associations and LLCs--regardless of whether or not their shares are freely transferable--from the list of taxable persons.