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GLOSSARY


What is a variable cost? 04 Feb 2023    •    V Common Variable costs fluctuate based on the trading activity in the business. These are the expenses that will fluctuate with business activity and when the business increases production.

What is a VAT Vendor and who must register for VAT 17 Mar 2023    •    V VAT is the acronym for Value-Added Tax. VAT is an indirect tax charged on the consumption of goods and services in the economy.

What is a VAT201 06 Apr 2023    •    V What is a VAT201?

What is VAT exempt 06 Apr 2023    •    V That meansĀ if you sell these goods and services, you won't charge your customers any VAT, and if you buy them there will be no VAT to reclaim.

What is a VAT Return 26 Jul 2023    •    V What is a VAT return and why must you submit it

What is VAT Refundable 02 Aug 2023    •    V If a vendor has an outstanding debt, a VAT refund will be set-off against that debt and any balance will be payable to the vendor.