How VAT Liability is Calculated

[@kortnfresh1878]

Very well explained. Thankyou. Really helped.

[@Kisembobusiness]

pleasure

[@kakurajames8652]

What happens if along the chain one person is not registered for VAT

[@Kisembobusiness]

@@kakurajames8652 if a person is Not registered for VAT, that person can only pay the VAT during purchases, but they are not allowed to charge VAT on their sales. In otherwords, they are more like the final consumer in the illustration in the video

[@reubennkonde2000]

Thank you so much.... well explained. But what's the point of registering for VAT as a company when you are not benefiting at all

[@Kisembobusiness]

There are benefits. You just don't know them yet

[@nabanjaviolet3036]

Thanks

[@atimangoharriet3087]

You are able to claim input tax when the out put tax is less than the input tax. You are able to trade with fellow VAT registered entities.

[@alicemusubika8996]

U can get credit of in put vat and import vat

[@Kisembobusiness]

Input VAT Credit is obtainable and claimable from Purchases, expenses and imports