Article 47 - Adjustment of Deductible Input Tax

1. A Taxable Person must adjust the value of Input Tax deducted by him when receiving Goods or Services supplied that are more or less than the value of the Input Tax deduction available to him, as a result of changes in the determining factors for Deductible Tax, including:

a) cancellation or rejection of a Supply;

b) reduction of the Supply Consideration after the date of the Supply;

c) non-payment of the Supply Consideration, whether in whole or in part according to Article 27(3) of this Agreement;

d) changing the use of Capital Assets.

2. The Taxable Person is not required to adjust the Input Tax in any of the following cases:

a) where the Taxable Person establishes loss, damage or theft of the supplied Goods in accordance with the conditions and provisions applicable in each Member State.

b) where the Taxable Person uses the supplied Goods as samples or gifts of insignificant value as specified in Article 8 (1)(d) of this Agreement.