Input VAT vs Output VAT: the difference, with a worked example (Spain)
If you’ve just registered as an autónomo (self-employed worker), or you’ve only been one for a short while, there are two terms that come up constantly and that are worth understanding well from the start: IVA soportado (input VAT) and IVA repercutido (output VAT).
They’re not difficult concepts. They’re difficult to understand when they’re explained in technical language before they have any context. With a concrete example, they fall into place on their own.