<owl:Class xmlns="https://folio.openlegalstandard.org/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:v1="http://www.loc.gov/mads/rdf/v1#" xmlns:owl="http://www.w3.org/2002/07/owl#" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" xmlns:folio="https://folio.openlegalstandard.org/" xmlns:rdfs="http://www.w3.org/2000/01/rdf-schema#" xmlns:skos="http://www.w3.org/2004/02/skos/core#" rdf:about="https://folio.openlegalstandard.org/R7jtlY9NSkzZRtDZ9hi8kmo">
  <rdfs:subClassOf rdf:resource="https://folio.openlegalstandard.org/RBpPod3eNjfLujqcKrmjwq9"/>
  <rdfs:label>Output VAT Payment</rdfs:label>
  <skos:altLabel>Output Tax Liability</skos:altLabel>
  <skos:altLabel>Sales VAT Remittance</skos:altLabel>
  <skos:prefLabel>Collected VAT</skos:prefLabel>
  <skos: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.</skos:definition>
</owl:Class>
