Page 4 - F6 Slide - VAT Part 2 - Lecture Day 5
P. 4

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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