Collected VAT

Output VAT Payment - Output VAT Payment refers to the Value Added Tax that a business collects on its sales of goods and services. This tax is remitted to the government after offsetting any Input VAT, ensuring businesses pay VAT only on the value they add to the products or services.

Class Information

JSON JSON-LD OWL XML Markdown

Identification

Label (rdfs)
Output VAT Payment
Preferred Label
Collected VAT
Alternative Labels
Output Tax Liability, Sales VAT Remittance
Identifier
N/A

Definition and Examples

Definition
Output VAT Payment refers to the Value Added Tax that a business collects on its sales of goods and services. This tax is remitted to the government after offsetting any Input VAT, ensuring businesses pay VAT only on the value they add to the products or services.
Examples
  • N/A

Translations

N/A

Class Relationships

Parent Class Of
  • N/A
Is Defined By
N/A
See Also
N/A

Additional Information

Comment
N/A
Description
N/A
Notes
  • N/A
Deprecated
False

Metadata

History Note
N/A
Editorial Note
N/A
In Scheme
N/A
Source
N/A
Country
N/A

Graph