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Input VAT vs Output VAT | Explained

In this video, we explain Input VAT, Output VAT, and the difference between Input VAT and Output VAT. We also explain why Input VAT is an asset account and Output VAT a liability account. We explain what a VAT vendor is (who can charge and claim VAT) and when VAT is owed to and from the Revenue Authority (SARS). VAT Vendor registration:    • VAT Registration in South Africa   VAT Inclusive & VAT Exclusive | Calculation Examples:    • VAT Inclusive & VAT Exclusive | Calcu...   Check out other straightforward examples and business-related topics on our channel. We also offer one-on-one tutorials at reasonable rates as well as other accounting and tax services. Email us and/or visit our website or FaceBook page for more info. Connect with us: Email: [email protected] Our Website: https://Counttuts.com Our Facebook Page:   / counttuts   Support our Efforts: paypal.me/counttuts