FA1 Section - Introduction to sales on credit - Sales tax
3 important questions on FA1 Section - Introduction to sales on credit - Sales tax
What is a sales tax?
Tax imposed by tax authorities or governments.
What is sales tax known by in europe?
VAT Value Added Tax
Input tax paid is 1800 and output tax received is 3000, how much do you receive/have to pay to the tax authorities?
Pay 1200 to the tax authorities.
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