3 ms·
Huh? Why are you accounting for VAT twice? Either you consider that the business 'pays' the VAT or you 'pay' the VAT, you don't get it both ways.
by plantain 7y ago
Huh? Why are you accounting for VAT twice? Either you consider that the business 'pays' the VAT or you 'pay' the VAT, you don't get it both ways.
- NightlyDev 7y agoIt is both ways, for me. My business pays VAT on sales, and I personally pay VAT on purchases, so for me and my business VAT will be paid twice. Both for what I sold and what I(personally) purchased.
- plantain 7y agoEither the consumer is paying the VAT or the business. You can't say that the business pays the VAT when you are the business, but the consumer pays the VAT when you are the consumer. If you frame it as you "personally purchased" something and paid VAT, then what you sold as a business to someone else was "personally purchased" and had the VAT paid by them too.