Commencement of depreciation for advance payment and booking of amounts
March 26, 2021 | 30,00 EUR | answered by Steuerberater Knut Christiansen
Initial situation: Self-employed (EÜR). Actual taxation. VAT liable.
Example scenario: Order of a computer on February 22, 2021 for €1,547 including VAT. Payment of the full amount in advance on February 22, 2021 (no invoice available at that time). Delivery of the computer on March 11, 2021 along with an invoice.
When (February, March) will which amounts (net amount, VAT) be booked where (accounts) and when does the depreciation begin?
Good day and thank you for using frag-einen.com!
The input tax is only deductible once an invoice has been received and paid or alternatively an invoice has been received and the goods have been delivered. The computer can only be depreciated once it has been delivered and can be used.
Therefore, if you make a payment on February 22, 2021, you initially book deposits on orders to the bank.
Then, upon delivery on March 11, 2021, you book:
Office equipment 1,300 EUR
Input tax 247 EUR
to deposits on orders.
You will then start depreciating from the month of March.
I hope this answers your question, if not, feel free to ask further questions at no cost.
I would like to point out that this forum cannot replace a comprehensive and personal tax consultation, but is primarily intended to provide an initial tax assessment. The legal assessment of your issue could differ if relevant information is added or omitted.
Best regards,
Knut Christiansen
Tax consultant
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