Uploaded by
phong
1 SLIDES
274 VUES
60LIKES
How the VAT system works
DESCRIPTION
P sells raw materials to M for £50 + VAT (£10.00). Manufacturer. Producer. How the VAT system works. M reclaims VAT charged by P and sells finished goods to R for £100 + VAT (£20.00). HMRC Collects (£40.00 in total) £10.00 from P, £10.00 from M and £20.00 from R. Retailer.
Download
1 / 1
Télécharger la présentation 
How the VAT system works
An Image/Link below is provided (as is) to download presentation
Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.
Content is provided to you AS IS for your information and personal use only.
Download presentation by click this link.
While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.
During download, if you can't get a presentation, the file might be deleted by the publisher.
E N D
Presentation Transcript
P sells raw materials to M for £50 + VAT (£10.00) Manufacturer Producer How the VAT system works M reclaims VAT charged by P and sells finished goods to R for £100 + VAT (£20.00) HMRC Collects (£40.00 in total) £10.00 from P, £10.00 from M and £20.00 from R Retailer R reclaims VAT charged by M and sells finished goods to C for £200 + VAT (£40.00) “Consumer”
More Related