VAT (Value Added Tax) is a consumption tax applied to goods and services at each production or distribution stage. Businesses collect VAT on sales and reclaim it on purchases, with the burden ultimately on consumers. VAT rates vary, and registration is required for qualifying businesses.
We do manage VAT invoices, submit periodic returns, and calculate liability by deducting input from output VAT. Compliance with VAT regulations and cross-border transactions which are crucial. We can help in registering for quarterly returns, advising on VAT schemes, allowable expenses, and minimising tax liabilities.