Farley And Partners

How Is VAT Calculated?

All taxable supplies by a registered supplier are VAT inclusive. For example, if a trader makes a taxable supply worth D1, 150,000, then the VAT element is D1, 150, 000. This arrived at by dividing the selling price by 115% and multiplying it by 15%, the VAT rate (D, 150, 000/115*15)

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