value added taxes

CVH and Zetec tuning, suspension and braking mods.

value added taxes

Postby analankie on Tue Oct 18, 2011 8:46 am

Can someone explain to me what value added tax is? so i was issued a receipt, i payed a total of 225.5 pesos, the cashier issued me a receipt, she computed for the VAT which came out to 24.16 pesos. what is that 24.16 pesos? does that amount go the government?
______________________________
affiliateelite ~ affiliateelite.com ~ adgooroo ~ adgooroo.com
Last edited by analankie on Fri Oct 21, 2011 11:41 am, edited 1 time in total.
analankie
Newbie Poster
Newbie Poster
 
Posts: 1
Joined: Mon Mar 29, 2010 3:42 am

Re: value added taxes

Postby RSGeorge on Tue Oct 18, 2011 10:06 am

pretty much yes. Value added tax in the UK is 20% of some goods.

Take a commercial vehicle for example. Van advertised for £10,000 + VAT would mean that the cost to the buyer is £12,000. Alot of things have VAT included in the price, another example when you do your grocery shopping and it totals to £100, the VAT is not seperated at the checkout, the price shown will already include the VAT

Hope this helps
RSGeorge
Post Master
Post Master
 
Posts: 633
Joined: Thu Jan 27, 2011 10:18 pm
Location: Scunthorpe
Your car: Saab 9-3 & VW T4

Re: value added taxes

Postby andymac on Tue Oct 18, 2011 11:37 am

To confuse things in the UK, not everything has VAT applied and VAT isn't 20% on everything ! For example, an individual will pay 5% VAT on energy and domestic fuel (gas, electricity etc) but a company would pay 20% - however the company has a mechanism for claiming VAT back, so the company can end up slightly better off.

Essentially though, all that tax ends up with the government.
Nothing to see here...
andymac
Elite Pie Master
Elite Pie Master
 
Posts: 11056
Joined: Mon Jun 11, 2001 1:00 am
Your car: Your car: Your car: Your car:


Twitter

The second 20th Anniversary article, a dive into the history of how the site came about is available here: https://t.co/kbCfZ4sf0R

17:44, 4th December 2021 Twitter Web App

To celebrate https://t.co/wXVkvJipaS being 20 years old this year, I've written a series of articles detailing the… https://t.co/B0vE0Y3KvP

17:42, 4th December 2021 Twitter Web App

Follow fiestaturbo.com on Twitter:
http://twitter.com/fiestaturbo/

RSS Feeds

Subscribe to the RSS feed

What is RSS?

RSS is a technology that lets you use special applications or modern browsers to notify you you when a site is updated. You can then read the updated content in that application or your browser.

To subscribe to these RSS feeds you need to copy the links above. For instructions on how to add it to the feeds you keep track of, consult the documentation of your RSS reader.