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          The Ahu VAT Model
 

FAIR VAT MODEL

 

THE FAIR VALUE ADDED TAX (PROPOSED) [VAT (P)]

 

        Fair VAT (Value Added Tax) registered operators who collect the Sales Tax, shall charge the sales tax at standard rate 15% on consumers where Fair VFRS (Fair VAT Flat Rate Scheme) operators shall account for Fair VAT at the Flat rate 3% and non- Fair VFRS operators within VAT rate [0, 3%] (VAT invoice-credit scheme shall be scrapped meaning all operators shall pay VAT to VAT Service with or without Sales Tax Input receipts) and all on the Sales value of all vatable goods and services. (Sales shall be construed to mean sales or service where appropriate)

 

It must be remarked that there shall be no

 

  • Additional or other or mix-up of standard rate and flat rate with others like reduced, super reduced rates
  • Need for turnover brackets to be given different VAT rates

Click here to download detailed explanations in PDF

Click here to download the corresponding charts in PDF

 

 
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