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Collection of Data Value Added Tax Taxes Form

Collection of Data Value Added Tax Taxes Form

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welcome to 321 studies this is advanced taxation in today's lesson we shall be looking at value added tax in today's lesson we shall be looking at value added tax introduction you may be asked what vat is what is that that is an indirect tax on goods and services it is a consumption tax on goods and services consumed so when you purchase goods and services you are required to pay vats so we said that vats which is value added tax is an indirect us an indirect has because the body is shifted to someone else usually the consumer so the burden is shifted from the manufacturer to the consumer for the channel of distribution from the manufacturer to the distributor then from distributor to the retailer and from the retailer to the final consumer now actually it is the final consumer that pays vats that is why is an indirect assistance the burden is shifted from the original taxpayer to the final consumer so that is an indirect task on is levied on goods and services and then

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