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What is VAT and how does it work? -Will's Whiteboard
 
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Join Avalara's Will Frei as he explains VAT (Value Added Tax) and how it works. Get more tax tips here: http://avlr.co/1yi0FNn Today we're going to be talking about VAT or Value Added Tax. Many people struggle to understand what exactly VAT is and how it works, but it's extremely important. Over 150 countries use VAT including China and India, and most of Europe. So for global and international businesses it's imperative that you understand VAT. Let's take a look. Okay, VAT is an indirect tax that is given to the government at every stage of production of an item, in other words, every time there is value added. Let's take an example from the furniture industry. Let's just say that there is a lumber company and they're selling lumber to a furniture maker and they're going to sell it for 50 euros and the VAT rate is 10%. So that means that on 50 euros there would be 5 euros VAT. Now the lumber company is going to give that 5 euros directly to the government, so 5 euros here to the government. The furniture maker buys it for 55 euros and let's say that they're going to sell it to the furniture store, but they're adding value so they charge 120 euros to the furniture store. That's 12 euros VAT. Now, the furniture maker is going to also give VAT to the government because there was value added, but they're not going to give the full 12 because the government already got 5. So they're going to give 12 minus 5 equals 7. We'll say that again in case you missed it. The furniture maker sells it to the retail store for 132 euros and the retailer is going to sell it to the consumer and let's say they want to sell it for 150 euros, which would be 15 euros VAT. So the consumer pays 165 euros and the furniture store is going to remit that again, but a total of 12 euros is already paid. So they take the 15 and subtract the 12 coming from here and they're going to remit 3 to the government. So at each stage when value is added VAT is remitted to the government, but if there was an amount of VAT that was previously paid that gets subtracted from how much an entity remits to the government.
Views: 105877 Avalara
HOW DOES VAT WORK? PROS & CONS FOR SMALL BUSINESS
 
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A breakdown of how VAT works, when it becomes mandatory for your business to become VAT registered and the pros & cons of being VAT registered. Please like, share and subscribe if you found it interesting and/or helpful! Any questions, feel free to drop a comment below or you can contact via the following: Email ► [email protected] Instagram ► @andyactiveaccounts
Views: 3993 Andy Williamson
VAT for UK small businesses - Tax Tips & Advice for Business
 
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http://www.incauk.biz/ Hi, I'm Graham from Inca Chartered Accountants. In this video I'm going to talk about how you can make money from VAT. VAT is all about your sales. The threshold is £73,000. If you're rolling 12 months sales exceeds that limit you have to register for VAT. The key word in that is rolling. It doesn't operate on 1 financial year to the next basis. It operates on a rolling 12 months. Soon as you tip over, you have to register. What I'm interested in is registering early on a voluntary basis. Before your sales get anywhere near £73000 a year. Why would you want to do that? Well it a lot of cases you can actually make a lot of money from it. If you are selling to other businesses and those businesses are VAT registered then your sales are no more expensive now than they would be if you weren't VAT registered. On the plus side expenses you incur running the business suddenly become cheaper. There are lots of things you may buy which have VAT on them. Mobile phone bills, internet, computer equipment, desks and chairs, even dare I say Accountants bills. All of those things become cheaper if you are VAT registered. Now that can save you around about a sixth of the cost when you add that up over a quarter, over a year that's quite a substantial saving and that's extra profit for you. Money that you don't have to go and generate in sales elsewhere. So when you are in a situation where you are selling to other businesses think carefully about VAT registering nice and early would benefit you and make you some money. Now there is another line to the VAT side. If you happen to be in professional services you may not buy a lot, month on month for your business - a bit of mobile phone, a bit of internet. There is a scheme called the flat rate scheme and its particularly useful for biusinesses who are in professional services who don't have a lot of expenditure. Its also really easy to operate because you are only looking at the VAT on your sales. You can forget about the purchases side. Its all about calculating VAT on your sales and paying over a particular amount that is based on your profession. And that's the important bit, its based upon your profession. The rate you pay across is different from one type of business to another. Getting the right type of business can make you quite a bit of money ever quarter. We have clients who are making £600, £1000, £2000 a quarter through nothing more than having the correct business type and being on flat rate VAT scheme. That's money directly into your pocket care of HMRC. Flat rate VAT isn't for everyone. If you are selling overseas it may not be beneficial to you and if you are making losses it probably isn't with sales particularly low. So you need to think carefully about the ratio of your purchases to your sales and then decide which scheme is best for you. So what is the next step? Well registering for VAT is relatively straight forward. It can be done online or by your accountant. The important thing is record keeping. But then you probably know that about running a business anyway. Keep your receipts whether you are on the flat rate scheme or not, get VAT receipts, VAT invoices, keep a record of your income and expenditure. And from that reporting your VAT should be pretty straight forward. In the next video I'm going to talk about how much tax you have to pay.
Views: 50640 oxfordaccountant
VAT Value Added Tax explained
 
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What is VAT? How does VAT work? VAT, or Value Added Tax, is a system of indirect taxation. In this quick VAT tutorial, I will walk you through the concept and definition of how VAT works, run you through a VAT example with a Value Added Tax calculation, and discuss the different VAT categories in use. How does VAT work? What is reverse charge VAT? Find out in this Finance Storyteller video. Philip de Vroe (The Finance Storyteller) aims to make strategy, finance and leadership enjoyable and easier to understand. Learn the business vocabulary to join the conversation with your CEO at your company. Understand how financial statements work in order to make better stock market investment decisions. Philip delivers training in various formats: YouTube videos, classroom sessions, webinars, and business simulations. Connect with me through Linked In!
What is VAT ? | What is CST ? | What is TIN ? Learn about Sales Tax | eCommerce website business
 
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What is VAT ? | What is CST ? | What is TIN ? Learn about Sales Tax | eCommerce website business Jaanie VAT kya hota hai, kaise apply karte hain or ecommerce, online busniess me VAT jruri hai ya nahi VAT is a kind of tax levied on sale of goods and services when these commodities are ultimately sold to the consumer. VAT is an integral part of the GDP of any country. While VAT is levied on sale of goods and services and paid by producers to the government, the actual tax is levied from customers or end users who purchase these. Thus, it is an indirect form of tax which is paid to the government by customers but via producers of goods and services. VAT is a multi-stage tax which is levied at each step of production of goods and services which involves sale/purchase. Any person earning an annual turnover of more than Rs.5 lacs by supplying goods and services is liable to register for VAT payment payment. Value added tax or VAT is levied both on local as well as imported goods. What is TIN number? TIN stands for Taxpayer Identification Number, is unique number allotted by Commercial tax department of respective State. It’s an eleven digit number to be mentioned in all VAT transactions and correspondence. TIN number is used to identify dealers registered under VAT. First two digits of TIN indicate the issued state code. However, Other 9 digit of TIN creation may differs by state governments. TIN is applied for both sales done within a state or between two or more states. Tin is also being used to identify dealers in the same way like PAN, to identification of assesses under income tax act. CST (Central Sales Tax) ) is a form of indirect tax imposed only on goods sold from one state to another state, which particularly takes into account that the buyer and the seller needs to be in two different states. Connect us with: Website/Blog - https://ytadvise.com Facebook - https://www.facebook.com/YTAdvise/
Views: 67675 YTAdvise
How VAT works
 
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Tells you how VAT works, in an easy to understand way. Where to find us – Website – www.miventures.co.uk Twitter - @Myincventures Facebook – facebook.com/myincventures Pinterest – pinterest.com/miventures
At What Cost? Basic Economics of a Value Added Tax
 
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Most developed economies rely on a value VAT for a substantial share of their tax revenue, so it is natural for the United States to look at the possibility of implementing a VAT, especially while huge budget deficits are forecast as far out as the forecasts go. While one can debate the merits of a VAT in other countries, the tax is clearly not a good fit for the United States. It would tax a base that has traditionally belonged to state governments, its introduction would bring with it intergenerational inequities, its cumbersome structure would impose large compliance and administrative costs, and it would slow economic growth. Reduced economic growth would diminish tax revenue from all tax bases. This study projects that if the United States introduced a VAT in 2010, its net effect on tax revenue would be minimal by 2030 because VAT revenue would mostly be offset by declines in revenue from other tax bases. Meanwhile, slower gross domestic product (GDP) growth would also mean that government spending as a share of GDP would rise. Why is a Value Added Tax (VAT) wrong for the United States? How much would it cost? What would the unseen or unanticipated effects likely be? Join the Mercatus Center and learn more about this controversial suggestion. Randall G. Holcombe is DeVoe Moore Professor of Economics at Florida State University. He received his Ph.D. in economics from Virginia Tech and taught at Texas A&M University and Auburn University prior to coming to Florida State in 1988. Dr. Holcombe is also senior fellow at the James Madison Institute, a Tallahassee-based think tank that specializes in issues facing state governments. He served on Florida Governor Jeb Bush's Council of Economic Advisors from 2000 to 2006, was president of the Public Choice Society from 2006 to 2008, and was president of the Society for the Development of Austrian Economics in 2007. Dr. Holcombe is the author of twelve books and more than 100 articles published in academic and professional journals. His books include The Economic Foundations of Government, Public Policy and the Quality of Life, From Liberty to Democracy: The Transformation of American Government, and Entrepreneurship and Economic Progress. Help us caption & translate this video! http://amara.org/v/CNJG/
Views: 8330 Mercatus Center
Business Taxation part 1 of 4: Tax Updates for Entrepreneurs and Other Porfessionals
 
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UPOU,Faculty Manegement and Development Stuides,Simplified Acounting for Entrepreneurs
Views: 36626 UP Open University
Can I split my business in two, to avoid VAT registration?
 
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I often get asked, by UK business owners, if they can split their business up into parts so that they stay below the VAT threshold. Here is the answer...
What is a value-added tax? - Ask the tax professor
 
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Joel Slemrod, professor of business economics and public policy at the Ross School of Business at the University of Michigan, discusses the controversial value-added tax, a consumption-based tax that the US does not currently use.
Doing Business in Europe: tax and VAT issues
 
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Erik de Bie, Global Trade, Customs and VAT attorney at Greenberg Traurig, explains how to deal succesfully with tax, customs, VAT and other regulatory issues when considering to export to Europe. For more assistance and slides contact Erik de Bie: [email protected] Or check: www.doingbusinessineurope.eu.
Views: 3635 Gerdie Schreuders
VAT - How to make it pay for small businesses
 
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http://www.deb-accountants.co.uk/ VAT registration - how to make it pay for you. If your turnover exceeds the prevailing VAT registration limit you have to register with HMRC. However it may be in your interest to register on a voluntary basis. If you sell to other businesses that are themselves VAT registered, by becoming registered you will charge them VAT on your supply of goods and services Which most likely they will be able to recover. If you do this you will then you would be better off as you would then be able to recover any input VAT that you incur on many of your purchases In such circumstances you could be uncompetitive if you don't register. Imagine that your purchases cost £100 plus VAT at 20%. You thus pay out £120. Say you want to make a profit on the sale of £100, then you have to sell at a price of £220. If you are VAT registered you still pay out £120 but you can recover the input tax and thus the cost to you is only £100. To make the same £100 profit you must sell at a price of £200, but if you are VAT registered you Have to charge £40 VAT If you sell to a VAT registered business they will recover the VAT also and thus the net cost of your goods to them is £200. This is cheaper than the price of £210 if you are not registered. Your VAT registered customers would thus prefer you to be registered also. Where you sell to the general public your VAT registration will make you more expensive as they would be unable to recover the VAT that you charge them They would face a cost of £240 instead of £220. It is also relevant to mention that by not being registered your customers will know that your business is small. Your may need to register for image purposes. Another way you can make money on being VAT registered is to take advantage of the Flat Rate Scheme should this work to your advantage. Whilst you still charge VAT on all your sales at the prevailing VAT rate, in calculating the amount that you pay you simply apply the appropriate Flat Rate percentage for your business to your gross turnover. You can ascertain the appropriate rates for your business by simply doing a Google search For Flat Rate Scheme and follow the link to the HMRC website. Whether or not the Flat Rate scheme will work for you will depend upon the profit margins that you work with in your business and the rate that applies to your business. Some businesses will benefit from the scheme -- others will not. You will need to do the calculations on both the Flat Rate scheme and the conventional basis to see which one works best for you. If you want to discuss your options with regard to VAT, please contact us at DEB Telephone 01226 245824 or Email [email protected] Watch out for our video about the problems of the VAT trap as this may help you make The best decision for you business.. To get further help and advice please subscribe to our YouTube channel And sign up to our blog which you can access by clicking on this button on our website And entering you email details here.
Views: 27194 debaccountants
Webinar: European Value Added Tax (VAT) and Ecommerce
 
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Essential Guide to European Value Added Tax (VAT) is full of insights and information on EU VAT. Factors you need to consider when selling in Europe. Meet the experts: Britta Eriksson, CEO, Euro VAT Refund Inc Britta founded Euro VAT Refund Inc. in 1993. She is a leading VAT Expert. For more than 20 years North American Companies have benefitted from the VAT management, registration and refund services provided by Euro VAT Refund Inc. when they do business internationally. Susanna Hardy, Managing Director EU, ibt partners Susanna heads up our operations in the EU, focusing on developing companies exports and businesses in Europe through online services. Having worked in the UK, France, Germany and Belgium, she has great knowledge and experience in growing exports and business in Europe.
Views: 2119 IBT Online
Basics of VAT for KSA | Zoho Books
 
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A new indirect tax called VAT or a Value Added Tax will be brought into effect by the Saudi Arabian government from January 1, 2018, for which, registrations are already open. This potentially brings in a series of new changes to your business operations and bookkeeping. Hence, it's highly recommended for every business owner and accountant to understand the basics of VAT before its introduced.
Views: 2456 Zoho
Value Added Tax (VAT) and Taxation in Poland. Investment and Business in Poland
 
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Oruga Group Business and Investment Law ► https://orugagroup.com/en Today's video topic is #VAT - means Value Added Tax. The Polish Value-Added Tax Act of 11 March 2004 is based on European Union Legislation, and in particular, on the provisions of Directive 2006/112/EC on the common system of value added tax so-called the VAT Directive. VAT rates are as follows: 23% is a standard VAT rate. 8% is a reduced VAT rate - applied to supplies of certain food items, medical products, hospitality services and community housing. 5% is also reduced VAT rate - applied to supplies of certain food items, such as bread, dairy products, meats, and selected publications. Entities that wish to conduct activities subject to VAT in Poland must file a registration form before the date of the first taxable activity. Taxpayers who intend to conduct transactions between different EU countries must be EU VAT registered. The annual sales that do not exceed PLN 150,000 are exempt from VAT. However, the taxpayers may choose to pay VAT #tax. It depends on the scope of entity activities and in many cases it is more convenient for the entity to choose being VAT registered. Foreign companies can become a VAT registered companies too, but in order to register for VAT purposes in Poland, entities without a registered office in Poland, permanent place of residence or place of business in the European Union must appoint a tax representative. Tax representatives are responsible for the tax liabilities of the taxpayers they represent. Taxpayers file monthly VAT reports by the 25th of the month following the month in which the tax obligation arose, or quarterly, by the 25th of the month following the quarter in which the tax obligation arose. As a rule, VAT is paid to the tax office at the time of filing an appropriate VAT report. However, in the case of taxpayers paying VAT on a quarterly basis, monthly VAT withholdings must be made if the tax due results from the return filed for the previous quarter. Taxpayers with annual sales of less than EUR 1,200,000 are not required to make monthly withholdings (VAT can be paid quarterly). VAT is deducted, partially deducted or reduced if the criteria are met. As for example the VAT on accommodation and gastronomic services is not subject for deduction. The tax refund is usually paid into the bank account indicated by the taxpayer. As a rule VAT is refunded if requested by the taxpayer in a tax report, within 60 days from the date of filing an appropriate VAT report. The VAT refund period may be shortened to 25 days if additional criteria are met. If no taxable sales are concluded, the taxpayer may apply for a tax refund within 180 days of filing the VAT tax return. #investmentinpoland #businessinpoland Follow us: Facebook ► https://www.facebook.com/oruga.group.llc/ Instagram ► https://www.instagram.com/orugagroup/ Linkedin ► https://www.linkedin.com/company/oruga-group/?originalSubdomain=pl Twitter ► https://twitter.com/orugagroup Сooperation: [email protected] ORUGA GROUP is a law firm and expert of foreign investments in Poland. We provide complex legal services of company registration in Poland and other EU countries. Our main activities are practicing corporate law, providing investment services, offering legal advisory to investment in Europe. Oruga Group Provides: - legal and migration services to Poland - business registration in Poland - complex legal services - business immigration to Poland and EU - residence permit - real estate purchase and investment in Poland On our channel "Oruga Group - Corporate Law & Investment Services", you will get to know about: investments in Poland, where to invest your money, how to start a company in EU, alternative properties in Poland and some ideas about starting a business.
Introduction to Value Added Tax VAT
 
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This webinar will explain the basics of what VAT is, how VAT works, and the VAT liabilities involved when doing business internationally. Please visit http://www.eurovat.com for further information.
Value Added Tax (VAT) workshop
 
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Fujairah National Group in association with ( PWC ) Audit and Assurance Consulting and Tax Services has organized Value Added Tax (VAT) workshop on Wednesday 2nd of Aug. 2017 in Siji hotel - Fujairah. The workshops aimed to keep the UAE’s business community informed on new tax laws, to familiarize with the concept of VAT, the registration and implementation process associated with the new tax, and its potential impact on the UAE’s business community. The new law comes after the UAE, represented by the Ministry of Finance, ratified the Common Value Added Tax (VAT) Agreement of the States of the Gulf Cooperation Council and the Common Excise Tax Agreement of the States of the Gulf Cooperation Council, following Federal Decrees No. 31 and 32 of 2017, issued by President His Highness Sheikh Khalifa Bin Zayed Al Nahyan. It is a follow up step from Federal Decree-Law No. 13 of 2016 on the establishment of the Federal Tax Authority (FTA) tasked with executing tax laws in the UAE.
Indirect Tax : Value Added Tax : Lecture 3 : VAT
 
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To Buy DVDs / Pen Drive contact at : @ Delhi : 011-45695551 @ Gorakhpur : +91-7052208065 @ Mobile : +91-9889004575 @ mail id : [email protected] @ website : www.badlaniclasses.online @ Delhi @ Gorakhpur @ Indore @ Pune @ Mumbai
Views: 5979 CA dilip badlani
Learn how VAT Services on Amazon unlocks European selling
 
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VAT Services on Amazon offers convenient and cost-effective Value Added Tax solutions for you. You are able to use this product to complete European VAT registration and filings through the convenience of Seller Central. Spend more time concentrating on your business with VAT Services on Amazon. For more information, visit amazon.co.uk/vat-services-on-amazon.
Views: 24654 FulfillmentbyAmazon
Value Added Tax (Recovery of Input Tax & Types of Supplies)
 
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This video explains how the recovery of VAT tax works for business including an explanation of exempt supplies, zero rated, reduced rated & standard rated supplies. It is a very general introduction to the tax. For more info see www.komillachadha.com.
Views: 4688 Komilla Chadha
The VAT Trap that small business have to face
 
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http://www.deb-accountants.co.uk/ This video illustrates the impact that the VAT registration limit can have upon small businesses as they approach it. The impact is so significant that it posses a barrier that may cause businesses to forgo their future growth just to avoid the need for registration.
Views: 5009 debaccountants
How VAT is applied across internal EU borders - utalk
 
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We're talking tax in this edition of Utalk. Petar in Sofia asks: "I am a small business owner in... euronews, the most watched news channel in Europe Subscribe for your daily dose of international news, curated and explained:http://eurone.ws/10ZCK4a Euronews is available in 13 other languages: http://eurone.ws/17moBCU http://www.euronews.com/2014/01/31/how-vat-is-applied-across-internal-eu-borders We're talking tax in this edition of Utalk. Petar in Sofia asks: "I am a small business owner in Bulgaria, providing both goods and services to customers. I would like to extend my business abroad in the EU, but I am not sure whether VAT is applicable or not. Could you help me?" Jean-Baptiste Meert, a Senior Communication Officer with Europe Direct responds: "As a European Union-based company, VAT is chargeable on most of your sales and purchases, except exports to countries outside the EU. As a business supplying goods or services you must normally register with the tax authorities in the EU country where your business is established. "When you sell goods or services, add the VAT to the price of the goods or services on your invoice. The customer pays you the full amount of the invoice, including the VAT. You must account for this to the tax authorities. If you sell goods or services to business clients in other Member States, you will not have to charge VAT but your business client is, in most cases, liable to pay the VAT in his own Member State. "Similarly, when you are buying goods or services, you must also pay VAT as a customer. However, you can usually deduct that VAT from the VAT you charge your own customers. This means that you need to pay only the difference to the tax authorities, and report these amounts to them in your periodic VAT return. "Sometimes, the VAT your business has paid exceeds the VAT that you have charged to your customers. If so, the tax authorities will reimburse or credit you with the difference. "There are standard EU rules on VAT, but the detailed application of VAT may be different in each EU country. Although VAT is charged throughout the EU, each member country is responsible for setting its own rates. Within each country, there is a standard rate, which applies to all or most supplies, and there may be one or more reduced rates - lower rates that apply to a limited variety of supplies. "Finally, some important categories of goods or services, for example: educational, healthcare and financial services, are mostly exempt from VAT. For more information on VAT registration and invoicing, as well VAT rates in the various EU countries, call 00 800 6 7 8 9 10 11 or check out the website: http://europa.eu/youreurope/business/vat-customs/buy-sell/index_en.htm Find us on: Youtube http://bit.ly/zr3upY Facebook http://www.facebook.com/euronews.fans Twitter http://twitter.com/euronews
Views: 3827 euronews (in English)
How to calculate VAT - Simple Method VAT Calculation
 
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This is a free video tutorial. In this video tutorial I will show you how calculate VAT using a simple method and calculator. Calculating VAT can be very simple once you understand the basic formulas which are required. There a few different ways to calculate VAT. In this tutorial will use a calculator and some basic formulas to calculate VAT at 20%. If you're interested in bookkeeping then why not check out some of our small business bookkeeping tutorials or VAT bookkeeping tutorials. For more tutorials visit https://www.dcpweb.co.uk/blog or https://www.youtube.com/user/dcpwebdesigners Follow Us for FUN :) Twitter: https://twitter.com/dcpwebdesigners Google+ https://plus.google.com/+DcpwebCoUk Facebook: https://facebook.com/dcpwebdesigners DCP Web Designers - https://www.dcpweb.co.uk
Views: 30171 DCP Web Designers
what is VAT and how it works in UK?
 
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Hello Everyone Here is a guide about VAT in UK for business holders in form of sole traders or limited companies. Hope you can find it helpful. Thanks Wise Accountants
Views: 5348 Ali Shirkavand
Module 12 | Session 1 | Value Added Tax (VAT) in Tally.ERP 9 | Value Added Tax in Hindi
 
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Visit our website http://tallytraining.in/ or Call +91 9558821174 Get all 54 Modules absolutely FREE from Android APP. Learn Tally on Mobile. Get FREE App from http://demo.experttraining.in/app We provide quality training for Tally ERP9 in a scientifically designed and structured Video Training Series. It covers in-depth knowledge to meet the accounting requirements of the industry. We not only teach the concepts but also helps you learn how you can Practically implement those concepts in your Accounting Process with examples. Training will be provided by Mr. Viral Jadhav who is highly experienced and expert corporate trainer. The entire course of Tally ERP9 is approved by certified Chartered Accountant and Business Experts. We conduct online examination and you will be awarded with course completion certificate in Tally ERP9 Accounting. "Our vision is to build globally competitive entrepreneurs and the most productive work force" Call +91 9558821174 Keywords value added tax in india What is Vat Tax in hindi tally erp 9 full tutorial in hindi part 1 tally erp 9 full tutorial in hindi tally erp 9 full tutorial in hindi all parts tally erp 9 tutorial in hindi tally erp9 tutorial in hindi full tally erp 9 in hindi tally tutorial in hindi full tds entry in tally erp 9 tds entry in tally erp 9 in hindi vat entry in tally erp 9 what is vat tax in hindi what is vat and cst what is vat in hindi what is vat in india how to calculate vat in tally value added tax lecture tally tutorial for beginners tally online classes tally training institutes tally training classes tally erp 9 online course tally online classes learn tally erp 9 online free learn tally 9 in hindi full tally training videos tally erp 9 tutorial in hindi vat payment in tally Viral Jadhav
Views: 29397 Viral Jadhav
What is VAT Value Added Tax (VAT) is a type of consumption tax
 
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Looking to sort out http://callietimothy.com/ - What is VAT Value Added Tax (VAT) is a type of consumption tax ? https://www.facebook.com/callietimothyaccountants Businesses and consumers are charged with various forms of taxes and it is important to understand what we are being taxed for. Value Added Tax (VAT) is a type of consumption tax which is levied on different kinds of goods and services provided to consumers. Most of the revenue generated by businesses for the provision of goods and services are subject to tax. Therefore, the taxable portion of sales will be remitted to the Government in the form of VAT and other taxes for inputs and raw materials. For VAT, the tax is fully bared by the final consumers of the goods. Due to its importance as a major source of national income, most of the countries around the globe impose VAT, or similar form of taxes, on end consumers. What is VAT and when is VAT charged? VAT is levied on most business transactions and dealings across the entire value chain of the goods. In order to explain VAT better, let us use the example of a chocolate company. In the first stage of the value chain, the supplier will provide cocoa powder and other raw materials to the chocolate manufacturer. The cocoa powder will be sold for a profit which is inclusive of VAT to the manufacturer. The manufacturer then makes the chocolates and sells it to the retailer for a profit which also includes VAT. At the retail outlet or at shopping centers, retailers make the final stage of sales to the consumers. The final price of the product - which the consumer pays for - includes the payment for the chocolate and the total sum of VAT from the supplier right up to the user. Based on this example, we can see that VAT is paid by the final customers. Each entity in the value chain is required to remit their portion of VAT tax over to the Government. VAT rates and the categories of goods and services charged with VAT vary across the different nations. In the United Kingdom and some of its neighboring countries in the European Union, the standard VAT rate is 20 percent. But for certain categories of goods and service, a reduced VAT rate of 5 percent or a zero VAT rate of 0 percent might apply. Domestic fuel, sanitary hygiene goods and energy-saving equipment are charged with a 5 percent VAT rate. Newspapers, books, certain types of food and public transportation qualify for the 0 percent VAT rate. Certain goods and services are wholly exempted from VAT. This category of goods and services include education, insurance, medical treatment and fundraising. After understanding the basics of VAT, we are sure that you will have further questions about the topic. Other common questions regarding VAT includes the business registration for VAT, VAT payment and refunds and also VAT related notices, forms and application guidelines. VAT is a complicated tax matter for most people to understand. To read up more or to get professional help in regards to VAT, get in touch with your local tax agent or search for more information online. Article Source: http://EzineArticles.com/7212769 Subscribe to our channel: http://callietimothy.com/youtubesub This video clip is owned by the respective owners. No copyright infringement intended The information contained in this website is for general information purposes only. The information is provided by callietimothy.com and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website. Through this website you are able to link to other websites which are not under the control of callietimothy.com We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them You Can Learn More on: https://www.youtube.com/playlist?list=PLD-fVNHkAoWERcT2SdgifXHu26oSrTFrg
Views: 3481 callie timothy
Indirect Tax : Value Added Tax : Lecture 1 : VAT
 
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To Buy DVDs / Pen Drive contact at : @ Delhi : 011-45695551 @ Gorakhpur : +91-7052208065 @ Mobile : +91-9889004575 @ mail id : [email protected] @ website : www.badlaniclasses.online @ Delhi @ Gorakhpur @ Indore @ Pune @ Mumbai
Views: 26502 CA dilip badlani
How to Search Your Business Through PAN/VAT Number.
 
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This Videos is only for those who wants to know their general business status through VAT/PAN Number.
Views: 1894 Nepal Tax TV
VAT Registration on UAE FTA (Federal Tax Authority)
 
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The GCC VAT Framework is imperative for all organisations to understand and implement the VAT system. To help organisations build and demonstrate tax capability and to ensure that their employees have a detailed understanding of GCC VAT Legislation and its application, Berkeley Middle East Training is pleased to offer the VAT Training Program. We offer the VAT Training Program in UAE as a public program and this can be customized for in-house requirements. To know more & next training session contact us: Tel: +971552005756 / +971552005636 Email: [email protected]
Views: 49777 Berkeley Middle East
Value Added Tax (VAT)
 
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Value Added Tax (VAT) is the number one source of income in many jurisdictions. Indirect Taxes are efficient for governments but cumbersome for businesses. A VAT expert can help you optimize your liquidity and help you invest in business growth. Visit withum.com for expert advice and connect with a local expert at HLB International when going abroad. The information presented in this video is not necessarily all inclusive, does not constitute legal, tax or any other advice, and should not be relied upon without first consulting with appropriate qualified professionals for your individual facts and circumstances. © 2015 WITHUMSMITH+BROWN, PC. All rights reserved. This video may not be copied in whole or part.
Views: 558 Withum
Value added tax for construction and contracting industry in UAE
 
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This video will explain about the implementation of value added tax for construction and contracting industries in UAE
Views: 1230 Dynamic Logics
Value Added Tax (VAT) Credits in Thailand
 
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VAT credits can mitigate tax liabilities for businesses in Thailand. For more information please feel free to contact us at [email protected] or by telephone in Thailand at +66 2-266-3698 or USA Toll Free 1-877-231-7533. You may also visit our websites at http://www.integrity-legal.com/ or http://www.legal.co.th/.
Value Added Tax (VAT) in UAE
 
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This video gives you background,understanding about VAT imposition in UAE and also enlighten you regarding its implications for business. End of the video summarizes recent steps taken by the government towards the implementation of VAT.
Views: 9997 MA Badar
Online Value Added Tax (VAT) return filing Nepal- अनलाइन मु.अ. कर (भ्याट) विवरण भर्ने तरिका
 
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Every person registered in VAT and required to file VAT return on monthly or four monthly basis shall file the return of their VAT related transaction online within 25 days of completion of the month. This video is purely for informational purposes. The publisher has tried his best to make this video informational and genuine. In spite of this if the video contains any misguiding contents please comment. This video is not published by Government of Nepal. So this video can just be used for reference purpose. The video publisher will not be liable in anyway if any loss arise due to use of this video in other purpose other than for informational purpose. This video is prepared by using "Active Presenter" software. Educational Video by: Anup Acharya #NepalTax #OnlineVATReturnfiling #Taxtips
Views: 13662 ANUP ACHARYA
VAT Value Added Tax | 3 scenarios & how to
 
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Value Added Tax UAE is implementing the VAT tax on 1st Jan 18 , this video will show you what's the process for each sector with 3 different scenarios ( 5% Taxable supplies, 0% Zero rated, Exempted sectors) and how to calculate the vat Need an Accounting advice ? our office with highly qualified people will help you grow Like video and subscribe as we will be releasing more cool videos about business / accounting / life style / products like us on facebook : http://www.facebook.com/mmk.acc.ae Linked in: https://www.linkedin.com/company/mmk.acc.ae/ for more info: contact us at [email protected] +971502567790
VAT registration 1: How to register for VAT and when
 
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What is VAT? Why should you register, how to register and when. Where to find us – Website – www.miventures.co.uk Twitter - @Myincventures Facebook – facebook.com/myincventures Pinterest – pinterest.com/miventures
ALBANIA- Agro Tourism reduction Value Added Tax (VAT) - Follow Business Albania®
 
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ALBANIA- Agro Tourism reduction Value Added Tax (VAT) - Follow Business Albania® CROSG® © Copyright FBA 2018. All rights reserved. #AgroTourismAlbania #FollowBusinessAlbania #BusinessNewsAlbania #EnglishMagazineAlbania #CorporateAlbania #AlbaniaInvestment
Business Brief: Value-added tax framework agreement in GCC states expected shortly
 
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VAT Agreement A framework agreement for enacting a value added tax is expected to be signed by the Gulf Cooperation Council (GCC) states shortly. Opec Meeting Opec officials failed to bridge their differences on an agreement to cut production and revive oil prices, while Russia said it is not planning to attend crucial talks on Wednesday. Tata Group The brawl atop India’s largest conglomerate is not just splitting the $100-billion Tata Group, it is also forcing the nation’s business community to pick sides. China’s Currency Policy China is stepping up measures to stem capital outflows after the yuan currency skidded to more than eight-year lows. Stock Market Shares on the Muscat Securities Market edged down again on lack of buying support. Website: http://timesofoman.com Facebook: http://facebook.com/timesofoman Twitter: http://twitter.com/timesofoman
Views: 131 Times of Oman
What is Value Added Tax (VAT) ? Urdu / Hindi
 
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This Video Give the Basic Concept & Basic Logic's of What is Value Added Tax (VAT) ? Urdu / Hindi ZPZ Education Channel Link: www.youtube.com/channel/UCwFzeQDf9cGm_ZeTXV_t5SA
Views: 2266 ZPZ Education
Changes coming to the Flat Rate VAT scheme in April 2017
 
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The new 16.5% Limited Cost Trader Flat Rate VAT category effective from April 2017 for businesses providing services. Find out more at www.ams-accountancy.co.uk
Views: 2599 AMS Accountancy Ltd
what is VAT CST TIN ! how to apply online ! doucoments requied (in hindi)
 
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What is VAT / CST / TIN Number , explained in hindi , difference between them , how to apply online , procedure and documents required , cost , deposit amount refundable or non , percentage of VAT 14.50 % or 15 percent in year 2016 , time period , official website - https://www.tin-nsdl.com/e-return/ereturn-registration.php
Views: 182640 My Smart Support
VAT Implementation in the GCC: Is your business ready
 
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Webinar: November 8, 2017 11 A.M. (UAE). VAT Implementation in the GCC. Learn the functional and technical impact of VAT on your business
Views: 3380 Techwave
How GCC Businesses Should Prepare For A 5% Value Added Tax
 
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Deloitte Middle East put together a checklist to help companies implement the new tax which goes into effect starting January 2018.
Views: 93 Forbes Middle East
VAT Registration Proprietorship I What do you need to do VAT Registration?
 
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Online Vat Registration System Bangladesh Creator: Saifur Rahman Azim Vocal: Saifur Rahman Azim Thanks To: Bangladesh Prime Minister "Sheikh Hasina" (For giving us online vat registration system) What do you need to do VAT Registration For Bangladesh - Saifur Rahman Azim demonstrates and explains What do you need to do VAT Registration (Bangla) Tutorial, any reason that you may need to Registration VAT Online Value Added Tax Certificate Application your owns. What is VAT? Value Added Tax or VAT is such an indirect tax which is paid by the consumer through a registered person. Value Added Tax or VAT on a particular goods or service is determined on the basis of adding actual level of value of the said goods or service adjusting input tax payable against the supplied goods or service. − Who pays VAT? Procedure of Value Added Tax or VAT is an automatic taxing procedure based on input tax credit against supply or sale. The supplier accepts the paid up VAT on the purchase tax of the goods or service during the purchase as credit as against the VAT included in the price during supply of such goods or service and he pays the net amount of VAT. Therefore, the seller realizes the VAT from within the price obtained from the buyer and deposits the net amount of VAT to the Government treasury after taking credit on VAT at purchase level. As VAT is considered to be a consumer tax, the consumer shall pay the whole amount of VAT as applicable on goods or service. As an intermediary procedure, the producer, the supplier, all, at every levels of sale, shall realize VAT on behalf of the Government and deposit to the Government treasury. ►Necessary Documents, information & For Proprietorship Company VAT Making Details: 1. Tin Certificate 2. NID Card of Proprietor 3. Company Name, Address 4. Phone/Mobile Number 5. Bank Account Name, Number, Name of the Bank 6. Annual Turnover 7. Email Address and password (Personal/Company) 8. Type of Business Activity 9. Proprietor Name & Date of Birth 10. Mother's Name if you will chose recovery question type mothers name. Related Videos:- ►Online Vat Registration System BD I নিজেই করে নিন ভ্যাট রেজিষ্ট্রেশন I Vat Registration Form Fill-up https://youtu.be/9ewUEJALff8 ►E TIN registration Tutorial 2017 https://youtu.be/Lt39A-AEJVA ►Also Subscribe to my other channels: https://www.youtube.com/channel/UCyYLplripO-xX_Sk3rmzUug ►I am in here with you:- ► YouTube- https://www.youtube.com/saifurrahmanazim ► Facebook Profile - https://www.facebook.com/azimkalarab ► Facebook Page - https://www.facebook.com/sr.azimkalarab ► Twitter- https://twitter.com/azimkalarab ► Instagram- https://www.instagram.com/azimkalarab ► Pinterest- https://www.pinterest.com/azimkalarab ► Linkedin- https://www.linkedin.com/in/azimkalarab ► Click to see all our videos https://www.youtube.com/channel/UCAHWJxNiBr9ii2nukxuMuIw/videos?disable_polymer=1 ► Subscribe to our channel https://www.youtube.com/channel/UCAHWJxNiBr9ii2nukxuMuIw VAT Registration BD Online New System VAT Certificate BIN Certificate BD New BIN Number Bangladesh ভ্যাট রেজিষ্ট্রেশন বিন নাম্বার বিন সার্টিফিকেট Value Added Tax Certificate Online VAT VAT Registration for Proprietorship Company Vat Online Bin Online
Views: 2304 Tech Unlimited
China fully implements value-added tax regulation
 
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For many years, China has operated a dual system. VAT has been long imposed on tangible goods, but services are instead subject to business tax.
Views: 555 CGTN America
Value Added Tax VAT in UAE simplified
 
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A brief on Value Added TAX (VAT) laws in the UAE. Subscribe to our video for updates on our free VAT training sessions for SME's Broadway Accounting & Advisory, a boutique accounting, audit and taxation firm, was established with a special focus on SME sector, by providing value added services at affordable price. We provide VAT implementation,training and consulting, Accounts outsourcing,Internal and External Audits, Due diligence and Business Valuation, Market and feasibility study, Business set up etc. www.broadwayadvisory.com
Views: 5750 Broadway Advisory
Should You Charge VAT?
 
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Please note that the VAT registration and deregistration thresholds will not change for 2 years from 1 April 2018. Do your customers sometimes complain because you don't charge VAT or issue VAT receipts? Do they suggest that you should charge VAT? This HMRC video will tell you who should charge VAT and when you need to register for VAT. HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 8532 HMRCgovuk
GST VS VAT
 
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Here's what you need to know about the difference between GST (Goods and Services Tax) and VAT (Value Added Tax). To get your business GST-ready, visit https://tallysolutions.com/gst/
Views: 22459 Tally
Value Added Tax in the US?
 
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Thom Hartmann talks with Tom Pauken, Former Reagan White House staff member / Commissioner-Texas Workforce Commission / Author-Bringing America Home: How America Lost Her Way and How We Can Find Our Way Back Website: http://tompauken.com/ who advocates a Value Added Tax or VAT Tax as a way to bring jobs back to the U.S. If you liked this clip of The Thom Hartmann Program, please do us a big favor and share it with your friends... and hit that "like" button! http://www.thomhartmann.com Follow Us on Twitter: http://www.twitter.com/thom_hartmann Subscribe to The Thom Hartmann Program for more: http://www.youtube.com/subscription_center?add_user=thomhartmann
Views: 1460 Thom Hartmann Program

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