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VAT & Indirect Tax

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What is VAT & Indirect Tax?

Value Added Tax (VAT) and Indirect Tax are both taxes charged on goods and services. Still, unlike direct taxes such as income tax, they are not directly imposed on individuals or businesses. It is added to the price of goods and services at every stage of production and distribution. It can be pretty high, often over 20%. 

Let’s look at a typical example of an indirect tax: suppose you want to buy a refrigerator from a store. The store prices the fridge at $500, but they also add a VAT of, let’s say, 10%. The final sale price will be $550 ($500 + 10% VAT).

The refrigerator manufacturer collects the VAT from the sale price and pays it to the government. You will see the cost of the refrigerator on his receipt before the Value added tax is added, but you l still have to pay the total price, including the VAT.


Proper Tax Planning Can Minimise And Improve Cash Flow

The rules are constantly changing, and businesses must stay informed about the latest regulations to stay compliant and avoid any penalties or fines. To remain compliant, businesses must stay aware of changes to Value Added Tax and Indirect Tax rules and exemptions.

Some Important Things To Keep In Mind About Vat & Indirect Tax:

Why You should take our Vat Indirect Tax Service

We offer an affordable and professional service related to various VAT Indirect Tax related matters, such as:

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