Registered
VAT registered means registered for VAT purposes, that is entered into an official VAT payers register of a country. Both natural persons and legal entities can be VAT registered. Countries that use VAT have established different thresholds for remuneration derived by natural persons/legal entities during a calendar year (or a different period), by exceeding which the VAT registration is compulsory. Natural persons/legal entities that are VAT registered are obliged to calculate VAT on certain goods/services that they supply and pay VAT into a particular state budget. VAT registered persons/entities are entitled to a VAT deduction under legislative regulations of a particular country. The introduction of a VAT can reduce the cash economy because businesses that wish to buy and sell with other VAT registered businesses must themselves be VAT registered.
Read more about this topic: Value Added Taxes
Famous quotes containing the word registered:
“To have no son, no wife,
No house or land still seemed quite natural.
Only a numbness registered the shock
Of finding out how much had gone of life,
How widely from the others.”
—Philip Larkin (1922–1986)
“Out of the darkness where Philomela sat,
Her fairy numbers issued. What then ailed me?
My ears are called capacious but they failed me,
Her classics registered a little flat!
I rose, and venomously spat.”
—John Crowe Ransom (1888–1974)
“Let fame, that all hunt after in their lives,
Live registered upon our brazen tombs,
And then grace us in the disgrace of death;
When spite of cormorant devouring Time,
Th’ endeavor of this present breath may buy
That honor which shall bate his scythe’s keen edge,
And make us heirs of all eternity.”
—William Shakespeare (1564–1616)