Explain three benefits that could be derived from changing zero rated supplies to exempt supplies in your country

      

Explain three benefits that could be derived from changing zero rated supplies to exempt supplies in your country

  

Answers


Wilfred
- There is reduced cost of compliance to VAT requirements
- Less time is spent on filing of VAT returns because one need not register for VAT.
- The VAT refund burden is eased on the part of the government because one need not claim input tax.
- There will be less tax evasion because the number of application for VAT refund will be minimised.
Wilfykil answered the question on February 15, 2019 at 06:08


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