Page 37 - ADVANCED TAXATION - Day 1 Slides
P. 37

Output VAT







                                    1                 Types of supplies                                       2




                                 Taxable supply                                              Exempt supply






                         Standard-                   Zero- rated                                  No VAT
                       rated supply                     supply





                                                                                 IF         Input denied


                             14%                          0%                       if input tax has been
                                                                                              denied

                                                                                  then no output tax is

                                                                                   levied on the supply
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