On Demand Webinar: IPT: compliant treatment of negatives

Sovos On Demand Webinar

DURATION: 45 minutes (including Q&A session)

When a negative policy line appears in the IPT documentation several questions needs to be answered before processing it.

Why do we have negative policy lines in our documentation? Is it correcting a previous error or is it the result of a cancellation? Can I reclaim the liability paid? If yes, can the current liability be decreased by the negative liability booked? Would it result in an overall negative declaration? If yes, is it allowed to submit a declaration with negative overall liability? How can I get a refund of the paid liability if the current liability cannot be decreased? And the list of the questions can be continued.

This webinar discussed these questions and provides clarity on the treatment of negative policy lines in IPT documentation.

Reasons of negative policy lines:

Correction of errors

Mid term adjustments and cancellations

Alternative solutions for treatment of negatives:

Inclusion into the current return

Submission of a corrective return

Submission of an explanatory letter

Submission of policy documentation and credit notes

Not possible to get a refund

The countries we will focus on during the webinar will be Italy, Germany, Greece, Spain, Hungary and the UK.

With a question and answer session towards the end of the webinar, you’ll also have the opportunity to ask our experts anything you’d like to know from an IPT compliance perspective.

This webinar will be hosted by Edit Buliczka and Elliot Shulver.

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