Input VAT vs Output VAT | Explained
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Input VAT vs Output VAT | Explained
In this video, we explain Input VAT, Output VAT, and the difference between Input VAT and Output VAT. We also explain why Input VAT is an asset account and Output VAT a liability account. We explain what a VAT vendor is (who can charge and claim VAT) and when VAT is owed to and from the Revenue Authority (SARS). VAT Vendor registration: https ...
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Value-added tax Tax rates
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