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WHY IS THE EFFECT NIL TAX SUPPLIES CANCEL THE EFFECT
A UK VAT registered trader making only standard rated supplies purchased goods worth £10000 (VAT exclusive) from a VAT registered trader situated elsewhere within the European Union.The goods would be classed as standard rated if they were supplied in the UK.The standard rate in the EU country are supplied from is 5%
what is the net effect on the VAT position of the UK trader?
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