4 ms·
You're actually both right. A company collects VAT from customers when they purchase. But it also buys from suppliers at a lower value. It pays the difference
by trollied 6y ago
You're actually both right.
A company collects VAT from customers when they purchase. But it also buys from suppliers at a lower value. It pays the difference in the two VAT numbers (from customer-to supplier) to the VAT authority.