Right of Tax Credit in Connection with Termination of Registration for the Assets Taxed on These Grounds and Available at the Time of Subsequent Registration

Art. 70.

(1)

Registered persons shall be entitled to deduct the tax charged in connection with the termination of their registration under this Law for the assets taxed within the meaning of the Accountancy Law, which are available as the time of subsequent registration.

(2)

The right under par. 1 shall occur only for the assets available as of the date of the subsequent registration, for which the following conditions have been met:

1. The assets available as of the date of subsequent registration under this Law were taxed upon termination;
2. The tax charged in connection with the termination has been effectively paid or netted by the tax authorities;
3. The person has performed, is performing or will perform taxable supplies with the assets under item 1;
4. ⁵² The registration list, given in a special format, for the assets available as of the date of subsequent registration, which have been taxed in connection with the termination of registration, has been compiled as of the date of subsequent registration and served within three days after that date inclusive.

(3)

 ⁵³

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