output tax

output tax
Value added tax charged on total taxable supplies by a trader registered for VAT. The standard rate is 17.5%.

Accounting dictionary. 2014.

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  • output tax — The value added tax charged by a taxable person on standard rated supplies (standard rated supply) made to customers in the course or furtherance of a business. It must be accounted for to HM Revenue & Customs (HMRC) at the end of the period of… …   Law dictionary

  • output tax — The VAT that is due on taxable supplies. HM Customs & Revenue Glossary * * * output tax output tax ➔ tax1 * * * output tax UK US noun [C or U] UK ► TAX a tax that is added to the price of goods or services, for example VAT: »You deduct your input …   Financial and business terms

  • output tax — The VAT that a trader adds to the price of the goods or services he supplies. He or she must account for this output tax to HM Revenue and Customs, having first deducted the input tax …   Big dictionary of business and management

  • output tax — / aυtpυt tæks/ noun VAT charged by a company on goods or services sold, and which the company pays to the government …   Marketing dictionary in english

  • output tax — / aυtpυt tæks/ noun VAT charged by a company on goods or services sold, and which the company pays to the government …   Dictionary of banking and finance

  • Tax compliance solutions — Tax compliance solution is a generic term used to describe the available softwares to perform tax compliance for income tax, corporate tax, VAT, service tax, customs, sales tax, use tax, etc. The solution automatically calculates your complete… …   Wikipedia

  • tax — ▪ I. tax tax 1 [tæks] noun [countable, uncountable] TAX an amount of money that you must pay to the government according to your income, property, goods etc, that is used to pay for public services: • The President said he would cut taxes for… …   Financial and business terms

  • Tax — Taxation An aspect of fiscal policy …   Wikipedia

  • tax point — The date on which goods are removed or made available to a customer or the date on which services to a customer are completed. The tax point determines the tax period for which the output tax must be accounted for to the Board of Customs and… …   Accounting dictionary

  • tax point — The date on which goods are removed or made available to a customer or the date on which services to a customer are completed. The tax point determines the tax period for which the output tax must be accounted for to the Board of Customs and… …   Big dictionary of business and management

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