Goods or services may be subject to VAT. Explain the purpose of VAT.

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Fundamental Accounting

ISBN: 9781485112112

7th Edition

Authors: David Flynn, Carolina Koornhof, Ronald Arendse, Anna C. E. Coetzee, Edwardo Muriro, Louise Christel Posthumus, Louise Mancy Smit

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Question Posted: Aug 30, 2023 03:45 AM

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Goods or services may be subject to VAT. Explain the purpose of VAT.

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ValueAdded Tax VAT is a consumption tax levied on the value added to goods and services at each stage of production or distribution It is collected incrementally as goods and services move through the ...View the full answer

Fundamental Accounting

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