Use “output tax” in a sentence | “output tax” example sentences
1- This can delay paying the output tax to Customs.
2- This return will show your output tax and your input tax.
3- output tax is the VAT you’ve charged on your sales to customers.
4- The difference between output tax and input tax is payable to the Local tax Authority.
5- A business charges VAT on the taxable sales which it makes; this is ‘ output tax ‘.
6- If an employee trades down to a cheaper model and sacrifices less salary, no output tax liability arises.
7- If input tax is greater than output tax the company can claim back money from the Local tax Authority.
8- Similarly, if your output tax is greater than your input tax, you must pay the difference to HMRC.
9- The supplier must account for the related output tax in the return for the period which includes the date of receipt.
10- If your input tax in the period is greater than the output tax , you can claim the difference from HMRC.
11- That is, the baker declares £90 worth of output tax , and with £60 deductible input tax pays £30 net.
12- Registered VAT payers have to present a three-monthly return (not synchronized between stages) on which all output tax and input tax is declared for the period and the net tax paid.
13- VAT is usually administrated by requiring the company to complete a VAT return, giving details of VAT it has been charged (referred to as input tax) and VAT it has charged to others (referred to as output tax ).
Related Words:
direct tax – estate tax – excise tax – green tax – input tax – local tax – luxury tax – output tax – stamp tax – state tax – tax break – tax credit – tax dodge – tax exempt – raise taxes –
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