Page 27 - P6 Slide Taxation - Lecture Day 5 - VAT Part 1
P. 27

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
   22   23   24   25   26   27   28   29   30   31   32