<owl:Class xmlns="https://folio.openlegalstandard.org/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:v1="http://www.loc.gov/mads/rdf/v1#" xmlns:owl="http://www.w3.org/2002/07/owl#" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" xmlns:folio="https://folio.openlegalstandard.org/" xmlns:rdfs="http://www.w3.org/2000/01/rdf-schema#" xmlns:skos="http://www.w3.org/2004/02/skos/core#" rdf:about="https://folio.openlegalstandard.org/RCUP1bJBitIbJFQ1SXl2Zai">
  <rdfs:subClassOf rdf:resource="https://folio.openlegalstandard.org/RBpPod3eNjfLujqcKrmjwq9"/>
  <rdfs:label>Input VAT Payment</rdfs:label>
  <skos:altLabel>Input Tax Deduction</skos:altLabel>
  <skos:altLabel>Purchase VAT Remittance</skos:altLabel>
  <skos:prefLabel>Recoverable VAT</skos:prefLabel>
  <skos:definition>Input VAT Payment refers to the Value Added Tax paid on purchases of goods and services that a business can reclaim or offset against the VAT collected on sales. This mechanism ensures that VAT is ultimately paid only on the value added at each stage of production.</skos:definition>
</owl:Class>
