Taxation · Lesson 10 of 14

VAT: zero-rated sales, exempt sales, importation, and refunds

Separate a zero-rated sale from an exempt one by asking what happens to the input tax, tell an exempt transaction apart from an exempt person, build the landed cost base for VAT on importation, and run the two-year clock and the ninety-day clock on a refund of input tax attributable to zero-rated sales.

19 min read · Super Ea