In case of the VAT margin scheme for travel agents, tax obligation arises also at the moment of making an advance payment. In case of an advance payment, the estimated costs of organizing a future specific trip should be taken into account to calculate the taxable base. Therefore, there is no need to wait until…...

If the advance payment was made first and later it turned out that the supply did not take place, the following rules should be applied: If the advance payment was made and collected, and at the time of payment all the material circumstances of the future delivery were known to the purchaser and the delivery…...