VAT payable

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Tags: taxation

VAT registered businesses collect VAT on behalf of the government. Businesses add a certain percentage of the sales price as VAT and charge the full amount to the customer.
The amount that the dealer is required to forward to the government is called VAT payable.
(Read more: http://www.ehow.com/about_7283897_vat-payable_.html#ixzz2qeYLy700)

Synonyms:
output VAT
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