V
AT is the tax implied on the consumption of goods or services on behalf of the government by the businesses. All companies should register for VAT and pay the government the collected VAT amount. At the same time, it receives a refund from the government on the VAT paid to its suppliers. Registering under the VAT law means that a business is accredited by the government, as a trader of goods and services and now is lawful to collect VAT from customers and remit the same to the government.
