Input Tax Credits

Voluntary Registration
Registration for value-added tax (VAT) by a taxable person whose taxable turnover does not exceed the registration threshold. This option allows businesses to benefit from claiming input tax credits even if their revenue—taxable turnover—does not mandate compulsory VAT registration.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.