We Know VAT
We all know that VAT is a value added consumption tax generally imposed at 17.5% on the supply of goods and services. But there's plenty more to know about VAT.
GST’s broad base often belies its complexity and areas of tension. Certain exceptions apply - including land, leasing, imported and exported goods and services. There are also mixed use assets and time or place of supply issues.
As a system based tax it's also critical that your system for collecting and recording the required VAT information is efficient and robust. Without this, systematic errors can compound over a period of time.
It's important to have an adviser who understand all the implications for you and your business. That's where BDO can help.
We can assist with:
- VAT consulting advice on specific transactions
- VAT review of systems
- VAT return preparation or review
- Overseas online services
- Mixed use apportionment calculations
- VAT audit reviews