How to Calculate VAT for Your Small Business
When I first tackled VAT calculations for my small business, I quickly realized the importance of understanding whether my prices were VAT inclusive or exclusive. It's a simple concept, but getting it right can save you from compliance headaches down the road. For instance, if I sold a product for $100, the way I calculate the VAT could vary considerably based on the pricing structure. Missing this detail could lead to some unexpected financial consequences. So, how do you guarantee you're on the right track when calculating VAT? Let's explore this further.
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