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Thread: VAT definitions

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    VAT definitions

    hi people!! im just a kid!! so please feel free to help!! i have this accounting assignment due and im working on vat!!! it really sucks!! i have done a lot of research however i haven't found a proper detailed definition on : vat input and vat output


    please assist me if possible

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    Site Caretaker Dave A's Avatar
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    Output VAT:
    The VAT you charge your customer when you make a sale.

    Input VAT:
    The VAT your supplier charges you when you buy something from them.

    I hope that helps.
    The trouble with opportunity is it normally comes dressed up as work.

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    rram (28-Aug-11)

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    Diamond Member AndyD's Avatar
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    Hi rram, welcome to TFSA.

    Your question was asked and answered here..
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    rram (28-Aug-11)

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    Site Caretaker Dave A's Avatar
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    Yeah - I think he/she's just an eager beaver. Posting like they're in a chat room
    The trouble with opportunity is it normally comes dressed up as work.

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    rram (28-Aug-11)

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    HAH, IM SORRY GUYS I JUST NEED SOME HELP ON THIS PROJECT REALLY QUICK

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    hi; can some one help me on the following topics by giving me a definition and example for each:
    vat exempt, zero rated.
    also; please explain the consequences for a business for the non payment of vat to sars.
    THIS WOULD BE THE THIRD TIME I HAVE ASKED THIS WITHOUT AN ANSWER!!!!!!!!!!!!!!!!!!!!!!!!!!

    thanks

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by rram View Post
    THIS WOULD BE THE THIRD TIME I HAVE ASKED THIS WITHOUT AN ANSWER!!!!!!!!!!!!!!!!!!!!!!!!!!
    Ahem!

    Sunday evening.
    Business forum.
    Participation voluntary and on people's own time, not yours.

    Take a chill pill, punk!

    EDIT: And is that a 4th I see

    My ban finger is getting damn itchy right now.
    The trouble with opportunity is it normally comes dressed up as work.

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    IM REALLY SORRY ABOUT THAT DUDE!!!!!

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