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FreeAgent was launched in September 2007. The company was founded by Ed Molyneux, Olly Headey and Roan Lavery. In 2012 FreeAgent acquired the American startup 60mo, in order to expand into the US market. [1] It topped Deloitte's list of fastest growing technology firms in 2013. [2] In 2015, FreeAgent raised over £1 million via crowdfunding ...
Anyone who collects VAT becomes a VAT Trustee if they: register and collect a Business Identification Number (BIN) from the NBR; submit VAT returns on time; offer VAT receipts; store all cash-memos; and use the VAT rebate system responsibly. VAT Mentors work in the VAT or Customs department and deal with trustees. The VAT rate is a flat 15%.
Tax-free shopping (TFS) is the buying of goods in another country or state and obtaining a refund of the sales tax which has been collected by the retailer on those goods. [1] The sales tax may be variously described as a sales tax , goods and services tax (GST), value added tax (VAT), or consumption tax .
VAT Return Filing period might vary based on your VAT registration. The Federal Tax Authority (FTA) mentioned the VAT return filing period on the VAT certificate. All the businesses who register for VAT should complete their VAT return filing as per the defined period on the VAT certificate. After filing VAT returns, you have to make VAT ...
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From 1 January 2020, the valid VAT number of the customer is a material requirement to be able to apply the zero VAT rate for intra-Community supplies of goods in the EU. If the customer’s VAT number is not valid, 0% VAT rate cannot be applied. Companies must make sure that the VAT numbers of their customers are checked. [4]
VAT is an indirect tax because the tax is paid to the government by the seller (the business) rather than the person who ultimately bears the economic burden of the tax (the consumer). [4] Opponents of VAT claim it is a regressive tax because the poorest people spend a higher proportion of their disposable income on VAT than the richest people. [5]