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10 cards from this deck
Value-Added Tax
R50,000 annual turnover
R1,000,000 or more annual turnover
VAT collected on sales to customers
VAT paid on purchases from suppliers
15%
Amount×15115\text{Amount} \times \frac{15}{115}Amount×11515
Amount×0.15\text{Amount} \times 0.15Amount×0.15
Output tax - Input tax
Increases (treated as sale)
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