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CLASSIFICATION OF TAXABLE SUPPLIES | Quantum Auditing

 

CLASSIFICATION OF TAXABLE SUPPLIES

Standard rates supplies: Chargeable at 5%.

For example: local sales of services which are not zero rated and exempted.

Zero rated supplies: Chargeable at 0%.

For example: Export sale of service, providing healthcare facilities.

Exempt Supply: No VAT chargeable at the point of sale.

For example: Supply of bare land, Local passenger transport services.

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