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The VAT increase will certainly impact on the poorest secition of the community - as it will make food & fuel more expensive.
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∙ 13y ago
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What are the advantages of VAt?
make your economy grow faster....and to supply the needs of the people..also to increase the fund of economy
Is nett price inclusive of vat?
No, Net Amount is the amount before VAT is added. Once VAT is added it then becomes the Gross Amount. Net price is exclusive of VAT
Is VAT imposed on exporting goods?
no
What is Rvat in the Philippines?
ano ang r-vat
Why the government has decided not to charge VAT on certain basic goods?
Because those goods are needed for our health, and some people don't have enough money to pay for the VAT
How does vat affect the accounting equation?
The VAT can affect the accounting equation in two different ways. The accounting equation is ASSET=CAPITAL+LIABILITIES So, if VAT is OWED from HMRC (receivable) it will be an asset, so the asset will increase and the Capital will increase as well. ASSET+X=CAPITAL+X+LIABILITIES, where X is the amount of VAT received. If VAT is owed TO HMRC (payable), then the liabilities will increase, which means that the capital will decrease with the same amount. ASSET=(CAPITAL-Y)+(LIABILITIES+Y) where Y is the amount of VAT to be paid.
How much custom duty or vat have a on rough diamond in uk?
The custom duty and the VAT usually increase the value of the rough diamond in the UK.
What is the present vat rate in karnataka 2011 of food item?
14%
How much is VAT of machine in England?
It depends on what it is being charged on. The main VAT rate is 17.5% but the new Con-Dem Government is increasing it to 20% in January 2011.
Can businesses offset customs duty against VAT payments?
Customs duty is levied at the time of importation of goods in a country. Import VAT is levied on goods after Custom clearance and hence VAT will be calculated on the value which already includes the customs duties paid by the importer. Besides, in most countries VAT and Customs are two different authorities with their own rules and regulations. Thus, VAT will be paid in addition to the customs duties of the goods, and it is not possible to offset one against other. We at Accountantsbox, support clients in assessing the impact of VAT on their business and comply with VAT law.
What are the advantages of VAt?
make your economy grow faster....and to supply the needs of the people..also to increase the fund of economy
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 %
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.
How will VAT rising affect your business?
VAT (Value added tax) increases actually raises the products / service cost. Customers who are not able to claim back VAT (non business or not registered for VAT) see this as additional expense not associated with the produst cost. These taxes whilst raising money for Government do actually cause the cost of living to increase, can and have caused a fall in the market place where customers cease purchasing or drop the volumes purchased. When placed on utilities like fuel the impact is vastly higher charges for produst and has been shown to actually slow the job market down as business make cuts to afford esential buying.
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
Is net of vat is the same with vat inclusive?
vat exclusive
Do you pay vat if the customer is vat exempt?
no. because when customer is notpaing vat only he have vat exwmption only/
