Find out and apply the rules for making your VAT assessment and avoid paying the penalties.
As value is added at every stage of exchange of goods, VAT has to be calculated for every sale. Later, the VAT you have received when selling goods has to be deducted from the VAT you have paid when you bought these goods. These calculations can become difficult at first. Using examples, this chapter explains how VAT should be calculated without overcharging the consumer and how to file your VAT Returns.
Chapter 5: Working with VAT
No government can exist without taxation. This money must necessarily be levied on the people; ...
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