When you develop a business plan for your project, the basis for calculating its performance indicators is the price of products (excluding VAT), the price of raw materials (without VAT), the price of services (without VAT), capital investments (without VAT), etc.
All of the above price factors should be cleared of VAT, i.e. not take it into account when evaluating the effectiveness of investments, since this indirect tax is neither a profitable nor a costly element of the project, which can directly affect both its profitability and its capital value.
VAT paid by the organization, whether in the price of raw materials, capital costs, etc., at the end of the reporting period the offset method either returns the overpaid amount from the budget, or not, depending on the amount of VAT received in the organization's revenue for the same period.
Imagine the situation.
You have an organization. You bought an imported machine for 5,000 thousand rubles.$ and paid VAT for it at customs = $ 1,000. During the same month, your organization received revenue from products sold for $40,000 thousand, including VAT. VAT in the amount of revenue amounted to $ 7,000 thousand. That is, the organization pays VAT to the budget for the reporting month not $ 7,000, but 6 000 $ (7 000 $ - 1 000$).
In other words, the state returns the VAT to the organization according to the offset method previously paid to it. This indicates that it does not relate to the actual costs of the project.
The only impact on efficiency in this context can only be the financial costs of the organization (crediting deficits), which may arise due to the need for a temporary outflow of money to pay VAT and cover this outflow with any loans or credits until VAT is refunded.
Of course, there are exceptions at the legislative level, according to which VAT should relate to the costs of a certain asset and is not deductible/offset, but these are isolated cases for certain business conditions.