n Tax Breaks Newsletter - The output side of value added tax - 14%, zero or exempt?

Volume 2006, Issue 251
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Extracted from text ... Moneyweb's TAX BREAKS December 2006 5 THE OUTPUT SIDE OF VALUE ADDED TAX - 14%, ZERO OR EXEMPT? VALUE ADDED TAX (VAT) - the indirect tax that has been part of legislation for 15 years now - has an input side, being what a vendor pays when he purchases supplies, and the output side, being the tax that he charges and declares on the supply of goods and services to customers. Looking in more detail at the output tax, Jan-Paul Borman, PricewaterhouseCoopers tax consultant, says it is vital to determine which output category your transactions fit into. The VAT Act ..

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