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For VAT purposes, goods and services are grouped into four categories:
1.
Standard-rated supplies
A standard-rated supply is taxable at the standard rate of VAT of 17.5%. For more information, please click here. For a list of examples, click here.
2.
Reduced rated supplies
A reduced-rated supply is chargeable to VAT at the rate of 5%. Please click here for a list of reduced-rated supplies.
3.
Zero-rated supples
A zero-rated suppy is a taxable supply, but it is chargeable to VAT at rate of 0%. Please click here for a list of zero-rated supplies.
4.
Exempt supplies
No VAT is chargeable on an exempt supply, but input tax cannot be reclaimed except as computed under the provisions on partial exemption. For a list of exempt supplies, please click here.
VAT rates and limits
Standard rate (VAT fraction 3/23)
15%
Reduced rate (VAT fraction 1/21)
5%
Registration limit from 01/05/09
68,000
Deregistration limit from 01/05/09
66,000
Cash accounting annual turnover limit (maximum)
1,350.000
Annual accounting scheme (maximum)
1,350,000
Flat rate scheme annual taxable turnover limit (maximum)
150,000
Scale charges
The scale charges for private use of business fuel is now based on CO2 emissions rating of the car. A different charge applies for each 5g/km increase between 140g/km (min) and 240 g/km (max). Please click here for a full table of the charges.
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