What Essential Steps are Needed for Online Tax Filing

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This phenomenon always comes into play when a company has not created any added value in the value chain. The invoiced sales tax has already been reported to the tax office; the amount is higher than the sales tax invoiced.

In practice, input tax and sales tax are kept in two different accounts. This then means that tax is to be found on the account from the sale, but less is received from the sale on the account of VAT. The account showing the lower balance will then be balanced accordingly. The resulting input tax surplus is compensated by the … Read More