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  • Question: Payments Made by The Government To Businesses Shall Be Subject To The VAT in The Following

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    naztig_017
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    Government will withhold 12% VAT from payments to suppliers and pay an additional 12% VAT on the supplier's price. Government will also withhold 5% of the VAT component and 5% of the gross selling price from payments to suppliers.

    Original Description:

    Tax Review Question

    Original Title

    T4

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    Government will withhold 12% VAT from payments to suppliers and pay an additional 12% VAT on the supplier's price. Government will also withhold 5% of the VAT component and 5% of the gross selling price from payments to suppliers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    5 views1 page

    Question: Payments Made by The Government To Businesses Shall Be Subject To The VAT in The Following

    Uploaded by

    naztig_017
    Government will withhold 12% VAT from payments to suppliers and pay an additional 12% VAT on the supplier's price. Government will also withhold 5% of the VAT component and 5% of the gross selling price from payments to suppliers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Question: Payments made by the government to businesses shall be subject to the VAT in the following

    manner:
    Government will withhold the 12% VAT from their payments to the supplier
    Government will pay the additional 12% VAT to the price provided by the supplier
    Government will withhold an amount of 5% on the VAT component of the selling price
    Government will withhold an amount of 5% on the gross selling price

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