Value is added to goods or services from primary production

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Vat is tax applied at each point where value is added to goods or services from primary production to final consumption. refer to vat as an input and output tax respectively and say your company registered by its inception with the receiver of revenue office. if your company has an input tax to the sum of $ 56 215 and an output tax for to the sum of $ 38 988, during the particular month or period. calculate the vat of the above and explain what need to happen here in relation to the above sums.

Reference no: EM131236588

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