Thank you. I live in South Africa and even with the VAT now being 15% you have explained the difference in Output and Input VAT better than my textbooks!
in your example it is assumed that we buy the TV off the supplier and then sell it at a greater price than we purchased it for. My question is what happens if we sold the TV for a figure lower than what we paid for it. Lets say the output tax figure on the sale is only £50. So the VAT calculation would be R50 subtract R70 = minus 20. Would there be any further VAT rebate or would we simply claim back the the Input VAT and not pay any output VAT?
Finally I understood vat input and output vat 💃💃💃💃 THANK YOU SIR
GOD BLESS YOU
Thank you. I live in South Africa and even with the VAT now being 15% you have explained the difference in Output and Input VAT better than my textbooks!
i live in south africa and i am currently a student of UNISA, so this video is very relevent to me; thanks a million, for sharing it :)
Thank you for this elaborate illustration
Wow than you so much !!!!!!!!!!!!!!!!!
in your example it is assumed that we buy the TV off the supplier and then sell it at a greater price than we purchased it for.
My question is what happens if we sold the TV for a figure lower than what we paid for it. Lets say the output tax figure on the sale is only £50. So the VAT calculation would be R50 subtract R70 = minus 20. Would there be any further VAT rebate or would we simply claim back the the Input VAT and not pay any output VAT?
Thank you thank you thank you
Very good
Youre very smart ......this is so precise and simple explanation for vat... Hope to see more videos from you
is 14% the VAT Tax Rate?