Value added Tax (VAT)

 VAT is a tax that is levied on services and goods and is paid to the government by producers although the actual tax is levied from the end-user or consumers who purchase the services and goods. This is important for GDP.

Comments

Popular posts from this blog

On July 10, 2020, Waterway Ltd. sold GPS systems to retailers on account for a selling price of $780,000 (cost $624,000).

Balance Sheet - Assets