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Greetings,
When we are to depreciate/amortize any asset, Will we take VAT into consideration? or it will be only the Gross amount (Without VAT)
@abdullah – for technical Qs on an examinable topic I suggest you ask on the relevant tutor forum – rather than this general forum. The answer is “it depends” – depreciation/amortisation is always calculated based on cost (straight-line basis) or carrying amount (reduced balance basis). Cost of an individual asset may or may not include VAT depending on many factors that may be relevant to a tax exam but are not examinable in FA/FR/SBR.
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