VAT on Interest Received from a bank account

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  • Nardene
    New Member
    • Oct 2017
    • 1

    #1

    [Question] VAT on Interest Received from a bank account

    When receiving interest on a bank account and I need to process the transaction to my bank account do I select 14% vat or is it a nil VAT transaction?
  • Andromeda
    Gold Member

    • Feb 2016
    • 734

    #2
    Interest is exempt from VAT

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