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Subject: Wealth Tax

kimjongl 6.05.22 - 10:55am
Only VAT vendors can use it, you can still be a VAT vendor while not necessarily being a corporate. VAT doesn't come into any calculation regarding profit. The VAT output on sales is not part of your sale price for income purposes. The offset you pay doesn't contain any of the businesses money to begin with, which is why claiming any possible input is an advantage because you can claim 100pc of the input portion versus the marginal tax rate percentage of the input portion as an expense if you didn't claim it. VAT isn't a business expense like income tax. It can affect your cash flow if not properly catered for. *

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