VAT-Registered Trader

Output Tax
Output tax refers to the value-added tax (VAT) charged on the total taxable supplies made by a VAT-registered trader. The standard rate typically varies by region, and understanding it is crucial for compliance and accurate financial reporting.

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.