Value Added Tax

A taxpayer can apply for voluntary Value Added Tax (VAT) registration for various reasons. One of the common incidences is that business owners apply for voluntary VAT registration to compete for certain bids.

Value Added Tax (VAT) is a type of tax that targets value addition and it is currently charged at 18% for every value that is added to a good or a service. It is also an indirect consumption tax charged on value-added to taxable supplies at different stages in the chain of distribution.