Value Added Tax (VAT)-Introduction, Basic Principles & Scope
Introduction, Basic Principles & Scope Of VAT Introduction:· Value added tax is a form of indirect taxation levied throughout the European Union. · It was introduced in the UK in the...
View Articleaccounting on VAT pertaining to the different rates applied in VAT ,VAT...
Below topic discuss on the accounting on VAT pertaining to the different rates applied in VAT ,VAT impact to income statement and balance sheet and how we show VAT in the books of accounts: Accounting...
View ArticleAdvantages Of VAT Registration
Note that the registration of VAT is compulsory if turnover of a business is over the threshold. However, in situation where a business’s turnover has not reached the VAT’s threshold, there are some...
View ArticleVAT Accounting- The VAT Return –Timing & Filing
Timing Of Filing Of VAT Return Once a business is registered for VAT, the interval at which returns are to be made is decided between the trader and the Customs and Exisce.The usual period are:...
View ArticleList Of Topics Under The Heading VAT Accounting
Click to the respective topic on VAT Accounting: Content Page On VAT ACCOUNTING 1.0 Value Added Tax (VAT – Introduction, basic concept and scope 2.0 Accounting for Value Added Tax (VAT) 3.0 The...
View ArticleAccounting Quiz or Test Your Accounting Knowledge On Value Added Tax (VAT)
Refresh or test your accounting knowledge on Value Added Tax (VAT): QUESTIONS:1.0 If output VAT exceed input VAT, the difference can be reclaimed from Custom and Excise. True or false?2.0 What are...
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