ACCA · FA / FFA Financial Accounting

Sales tax (VAT): input tax, output tax and the net position

Read the short case about an interiors business registered for sales tax, then answer the questions on the right. Each one tests output tax, input tax, the net amount owed to the tax authority, and how to move between tax-inclusive and tax-exclusive figures. Anything you miss, we will re-read the line and check you followed it.

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