| 释义 |
input tax
input tax VALUE ADDED TAX paid on the purchase of goods and services used by a VAT registered person for the purpose of their business.input tax
Input TaxIn the United Kingdom, the value added tax that a business pays on the products it buys. This contrasts with the output tax, which is the VAT that the business charges customers on what it sells. If the output tax exceeds the input tax, the business must pay the difference to the government. On the other hand, if the input tax exceeds the output, the government refunds the difference to the business.input tax see VALUE ADDED TAX. |