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VAT and revenue are some of the most important sources of funds for the government. The money is used in paying civil servants and provision of services such as security.

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Q: What is the importance of vat and revenue generation in nigeria?
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Do you pay VAT on royalties in South Africa?

No not really but I do come from Africa and Nigeria


Why is VAT charged?

To generate revenue for the treasury to pay for public services, defence, government etc.


Journal entries for vat payment to inland revenue?

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How do you fill in a VAT accounts book?

The UK Government HM Revenue and Customs website has official guidance on how to correctly fill in / keep a VAT accounts book. Please see the related links.


When is VAT returning to 17.5 percent?

According to the HM Revenue and Customs website, VAT was temporarily reduced from 17.5% to 15% on the 1st of December 2008 and it returned to 17.5% on the 1st of January 2010. Please see the related link.


List and describe four sources of state government revenue in Bangladesh?

natural gas, ready-made garments, VAT, income tax


How should VAT registration be completed?

VAT registration is completed by carefully filling out form TR1 or TR2, both available on the Ireland Revenue website, then forwarding the form to one's local revenue district. It is important to include one's name, address, business type, PPSN and relevant tax types. The form must also be signed and dated.


Is there Value Added Tax on funeral expenses in the UK?

Yes Value Added Tax (VAT) is added to the cost of a funeral as its considered providing a service. Providing a service is chargeable for VAT purposes under the current rules from HM Customs and Revenue. VAT is currently (as October 2012) charged on top of the provision of the service at 20% of the total goods or service provided.


How many types of vat?

The types of VAT........ 1 ) INPUT VAT @ 4 % 2 ) INPUT VAT @ 1 % 3 ) INPUT VAT @ 12.5 % 4 ) OUTPUT VAT @ 1 % 5 ) OUTPUT VAT @ 4 % 6 ) OUTPUT VAT @ 12.5 %


Will the VAT be abolished soon in the United Kingdom?

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Gross of vat and net of vat?

There is no such term as gross of VAT. The amount with VAT is called the gross amount while the net of VAT is the amount after the VAT has been deducted.


What is VAT output and VAT input?

VAT that is charged by a business and paid by its customers is known as "output VAT" (that is, VAT on its output supplies). VAT that is paid by a business to other businesses on the supplies that it receives is known as "input VAT