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Category TRANSACTION TAX
What are the tax rates of Value Added Tax (VAT)?
Created Jun-5-2015
Owner admin
QUESTION What are the tax rates of Value Added Tax (VAT)?
ANSWER

The following are the tax rates of VAT:

12% of the gross receipts for lessors;
10% of the gross selling price or zonal value, whichever is higher, for cash sale or deferred plan sales;
10% of installments received or constructively received for installment plan sales.