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A registered producer at VAT department sold a product to a registered wholesaler for 25,000 who sold it not registered retailer at a profit margin
A registered producer at VAT department sold a product to a registered wholesaler for 25,000 who sold it not registered retailer at a profit margin 15% from its cost who sold it to consumer for 30,000 if u learn the VAT rate is 14%
Required:
- Determine the gross value of the invoice that issued by the producer, wholesaler and retailer: 1- Retailer is registered at VAT department 2 Retailer isnt registered at VAT department
- Determine Tax Due that must be turned too VAT department by producer, wholesaler and retailer
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