VAT is a tax levied on the supply of taxable goods and services. However, not all goods and services are vatable, some goods and services are VAT exempted while some other goods are Zero Rated. VAT is a multi-stage levy on value-added on each production or distribution stage of goods or services. In the case …
Most businesses have tangible pieces of properties or equipment that it owns and uses in operations to generate income. These properties known as fixed assets are recognized in the business’s books of account and an amount known as depreciation is set aside to set off the cost of the assets over its useful life. All …
Taxes are one of the sources of revenues required by every modern state or nation to provide essential services for its citizens. A tax is defined as an involuntary fee that is levied on corporate organizations and individuals and is enforced by a government entity, to finance government activities, Taxes has always been a cheaper …
