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Sale tax

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Sale tax

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by John Moffat.
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  • April 27, 2016 at 2:17 am #312796
    abrizni10
    Member
    • Topics: 55
    • Replies: 49
    • ☆☆

    The Net selling price is the amount that the business wishes to achieve. Sir I don’t understand this mean? Can u pls explain?

    April 28, 2016 at 11:47 am #312928
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54702
    • ☆☆☆☆☆

    Have you watched the lectures on sales tax?

    The gross price includes sales tax, but the business cannot keep the tax – they pay it to the state. So all the business actually ends up with is the net selling price (excluding the sales tax).

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