Do You Add VAT to Your Product prices?

[Nomad]

Well, in our country all businesses having capital of more than $50,000 or sales needs to be registered for VAT. My businesses do not make that kind of sales and do not have that kind of paid of capital, therefore, I have not registered for VAT. Have you registered your business for VAT, do you change VAT from your customers. How much VAT do you charge from your customers?

 

[Laurentta]

I do not add VAT to my product prices since my business is still a small one.

 

[Augusta]

This is an indirect tax on the consumption of goods and services in the economy. Revenue is raised for government by requiring certain traders to register for VAT.