Define VAT, what is excise?, Taxation

Define VAT? what is excise? VAT refers for value added tax, that is termed as charged on profit earned by firm, for example example: let suppose a business man sells a product of USD 100 to USD 110, i.e. the vat is on that USD 10.if the tax rate is 5% then the tax value will be USD .0.50.
Posted Date: 7/26/2012 11:41:39 AM | Location : United States







Related Discussions:- Define VAT, what is excise?, Assignment Help, Ask Question on Define VAT, what is excise?, Get Answer, Expert's Help, Define VAT, what is excise? Discussions

Write discussion on Define VAT, what is excise?
Your posts are moderated
Related Questions
Justin's parents operate a restaurant business through a family trust, The Pepper Family Trust, which had the following receipts and expenses for the year ended 30 June 2011 (the b

Loren z Limited is a lorry  manufacturer. On 1 January 2011, the company entered into an operating lease (as a lessee) over a company systems. Details of the annual lease rentals,

Many years ago, in an effort to keep its costs down, Prince Enterprises hired a bookkeeper rather than a fully qualified accountant to prepare its accounting records and corporate

The will of B Dark, who died on 31 March of the previous income year, provides that after payments of debts and legacies the residue of the estate is to be held in trust and the in

Question 1: Government imposes a specific tax on hotel room.  Use demand and supply analysis to explain the incidence of this tax on the tourist, hotelier, Government as well a

A1 Evaluate the accuracy of the term "New South" in describing the post-Civil War South, and discuss ways in which the term was and was not appropriate. A2 What was the Indian "


there is significant difference between the average service tax collection per assessee in Pune zone and the average service tax collection per assessee in the country

Tax incidence can be separated into- 1. Formal incidence: the party liable to the tax 2. Informal incidence: party, who really pays the tax The tax incidence is decided by t

Sales tax, as compared to VAT is the percentage of revenue imposed on the retail sale of goods. Unlike VAT, sales tax is levied on the entire value of goods and services purchased.