Output tax - The amount of value added tax a company adds to the price of its product or service. Companies registered with Customs and Exercise for VAT have to charge VAT on their goods and services (with some exceptions). Every quarter they have to submit a VAT return which shows all their VAT outputs (where the company has received VAT from its customers) and all their VAT inputs (where the company has paid VAT on its purchases). If outputs exceed inputs, the company has to pay the different to Customs and Excise. If inputs exceed outputs, the company can claim a refund from Customs and Excise.
Output tax : the amount of value added tax a company adds to the price of its product or service. companies registered with customs and exercise for vat have to charge vat on their goods and services (with some exceptions). every quarter they have to submit a vat return which shows all their vat outputs (where the company has received vat from its customers) and all their vat inputs (where the company has paid vat on its purchases). if outputs exceed inputs, the company has to pay the different to customs and excise. if inputs exceed outputs, the company can claim a refund from customs and excise.
Output tax