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This section of the VAT Framework focus on the application of the fundamental principles to calculate output and input taxes for submission of the VAT 201 return.  This assessment focuses on the ability of the candidate to apply the principles of VAT with specific reference to:

  • understanding the concept of VAT
  • criteria which triggers VAT
  • types of supplies (taxable, exempt, deemed and denied)
  • timing of VAT (earlier of cash or invoice issued)
  • deemed supplies – 2nd hand goods
  • VAT of property transactions


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