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          The Ahu VAT Model
 

In a nut shell, the following is the Concept

  • The current VAT system has this one as a peculiar flaw where government VAT revenue targets can hardly be genuine let alone realized. Thus data on and revenue from VAT cannot be said to be true rightly. Therefore Government owes it a duty to change this method of VAT administration for the one that will afford return of true data and revenue. There in VAT System (Proposed) in the interim that takes care of the flaw by nullifying the effect of floating and redundant input tax receipts.
  • I want to see the VAT Law 546, 1998 as amended by Act 734, 2007 and prevailing L.I. 1646, 1998 and the VAT System (Proposed), with or without VAT input x credit receipts. Both VFRS and non- VFRS operators shall charge (Consumption Tax) CT at standard rate 15% on consumers and apply flat rate 3% and the VAT rate within [0,3%] (square bracket of zero and three percent), respectively, to account for their VAT payment due VAT Service.

Click here to download detailed explanations in PDF

Click here to download the corresponding charts in PDF

 

 
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