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What exactly does VAT Group Registration mean?
According to the VAT Law, if all of the following requirements are satisfied, two or more people conducting businesses may apply for tax registration as a tax group:
- Each must have a fixed establishment or place of business in the state.
- Related Parties must be the pertinent parties.
- In a partnership, one or more partners must have influence over the others.
- What advantages does VAT group registration offer
- Following group VAT registration, businesses can profit from the following.
- All group entities will be treated as “ONE” for VAT purposes.
- At the group level, only one VAT return needs to be submitted.
- Supplies falling under the VAT group will not be subject to VAT.
