Page 113 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1
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Ceasing to be a vendor
Value of supply
NO output if Account for output VAT on:
input was denied
Outstanding balances owing
Goods
to suppliers ≤12 months
Lessor of: Only to the extent that input were
• cost OR claimed on the supply that gave
• open-MV on date ceasing rise to the outstanding balance
to be a vendor
Time of supply
immediately before the vendor ceases to be a vendor
