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What else can I help you with?
Why is vat collected?
Value Added Tax (VAT) is government applied tax on taxable supplies at different rates most of which is 15% in UK, while lower rate 5% and zero-rate are used as well. Let's say there is a company A,which manufactures cars and sells it to the distributors.Now the company A will charge VAT to distributor and include on the invoice. Now A has simply collected the VAT on behalf of government and has the liability to pay the VAT collected back to government. While the distributor can claim that paid VAT back from the government if the distributor is VAT registered.so by this point, government has actually received nothing,as it returned to the distributor whatever it received from the company A. Now, when the distributor sells the car to end-user, distributor charges VAT to that end-user and collects the VAT again on behalf of government, and pays the VAT collected to the government.As the end-user cannot be VAT registered, so he cannot claim the VAT paid from the government, so the government has now actually received the VAT inflow.
Who introduced VAT?
The government, it is a tax
What is the validity period for Form VAT 47 of Rajasthan government?
The validity period for Form VAT 47 of Rajasthan government six months.
Is VAT fixed?
The rate of VAT, and on which items and goods it is to be levied on, is decided by the Chancellor of the Exchequer and the Government.
Does a person who is not a vat vendor have to pay vat for services from a vat vendor?
Yes, a person who is not a VAT vendor is generally required to pay VAT on services received from a VAT vendor. The VAT is typically included in the price of the services, and the VAT vendor is responsible for collecting and remitting that tax to the government. However, if the recipient of the services is a consumer or business that is not registered for VAT, they cannot claim back the VAT paid.
Who pays the government?
People pay the government through taxes like VAT
How do you calculate vat in south Africa working backwards ie you've got the total of R1250 what is the amount less vat?
1096.50
What will happen if vat will be removed?
If you mean VAT as in Value Added Tax then the government would find another way of taxing you.
How do you solve vat question?
There are several different methods of solution for a vat question. The best one to choose really depends on what the question is.
Can you charge customers VAT?
Yes, businesses can charge customers VAT (Value Added Tax) if they are registered for VAT and the goods or services they provide are subject to VAT. The VAT amount is typically added to the sale price, and the business is responsible for collecting and remitting this tax to the government. VAT regulations vary by country, so it's essential for businesses to understand the specific rules applicable in their jurisdiction.
Is the VAT a waste of money?
Not for the Government. And they are going to try it on in the US if we don't watch out.
Why do you think the government has decided to charge VAT on basic goods?
uyanya wena
