0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
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.
Is net of vat is the same with vat inclusive?
vat exclusive
Can a vat vendor claim input vat on goods purchased from a non vat vendor?
Assuming that we are a registered VAT vendor, when we make a purchase from a non-VAT vendor we cannot claim any VAT input from the purchase due to the fact that no VAT was charged on the supply by the supplier who is a non-VAT vendor.
What is the difference between vat exclusive and vat inclusive?
The difference between vat exclusive and vat inclusive is that vat exclusive is the price before tax is added on. Vat inclusive is the price after tax has been added on.
Is vat entered in the profit and loss account?
VAT is accounted for in the Balance Sheet if you have the right to claim VAT on purchases and liability to pay VAT on sales respectively i.e. if you are VAT registered. VAT on purchases is accounted for in the Profit and Loss (purchases are entered gross i.e inclusive of VAT) if you have no right to claim it i.e. if you are not VAT registered.
Where does the money spent on vat go?
VAT money goes to support the government. For example some of the money is used to support the police, some to fire protection, and some to roads.
How do you calculate VAT in South Africa?
Take amount ex. R100 + 14%= R114 Take the amount including vat is this case R114 R114 x 100 -------------- 114 = R100 so Vat is R14 R256.00 x 100 ------------------ 114 = R224.56 so Vat is R31.44 or R256.00 x 14 ----------------- 114 = R31.44
What contributions raised questions about how money was raised during a campaign?
soft money.
Why has the government decided not to charge vat on basic goods?
Because those goods are needed for our health, and some people don't have enough money to pay for the VAT
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 government 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
Why 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
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
Who raised money for Haiti?
Cheryl cole has raised some money Joe mcelderry etc
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 %
How was money raised in the us for building the pedestal?
The money was raised a dollar at a time through individual donations.
What is the importance of vat and revenue generation in nigeria?
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.
