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Depreciation of passenger car purchase

DB
2024-10-02

Question

Subject: Below entry for purchases/depreciation of passenger car: You are entering an expense for a total amount of €42,500.00 (excluding VAT €35,123.97) in the category (excl. VAT €35,123.97) in the category Passenger car.Your supplier is Le Couter my, a Belgian company.The document states the invoice date as 16/10/2023 and you record the expenditure on 01/07/2024.The amount you can recover from VAT is € 0.00 (vAT deduction % = 0%). The impact on your accounts is € 8,500.00 (% professional use % = 20%).

Is the booking correct?

HI

It seems so, are you VAT exempted from VAT? Otherwise, I would wonder why you are not recovering VAT.

Yes, I am subject to VAT. But can I still recover 20% of the VAT on an invoice that is already dated and paid in 10/2023?

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You really should try it out for yourself. Even if you don’t have a company number yet, you can already go ahead.

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