LUT

Definition	:	Letter of UnderTaking
Category	:	Governmental » Rules & Regulations
Country/Region	:	Worldwide
Popularity	:

What does LUT mean?

Letter of Undertaking (LUT) is a document or declaration provided by an exporter to the tax authorities.
LUT is specifically used in situations where the exporter is exporting goods or services without the payment of taxes, such as Goods and Services Tax (GST) or Value Added Tax (VAT).
The purpose of the LUT is to provide assurance to the tax authorities that the exporter will abide by the tax regulations and not seek any tax benefits or refunds on the exported items.