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Output VaT

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Output VaT

  • This topic has 1 reply, 2 voices, and was last updated 1 month ago by JillyB.
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  • February 23, 2023 at 2:36 pm #679503
    maximus07
    Participant
    • Topics: 430
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    • ☆☆☆☆

    (1) When a trader sales to public so Output VAT is burden on him. Can you explain this?
    (2) some time it also says that when selling to general public we have no further scope for any price increase.

    Can you explain these two.

    February 25, 2023 at 1:19 pm #679594
    JillyB
    Moderator
    • Topics: 0
    • Replies: 275
    • ☆☆☆

    When selling to another trader the burden of VAT is offset by the input VAT and it is passed on to the trader. When selling to the public – the public cannot reclaim the VAt as they are not registered and the burden falls on the trader.

    Sometimes in this situation it may be hard to increase prices as the burden increases too.

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