Differrence between Vlue Added tax anb Income tax

[aliciasuji]

Value Added Tax(VAT) is not an expense to business. You collect from customers and pay to tax office. It's indirect tax; consumer bears the burden. Income tax is an expense to business. It's direct tax. Business pays out of its profit.

 

[jitendra05]

Value Added Tax(VAT) is not an expense to business. You collect from customers and pay to tax office. It's indirect tax; consumer bears the burden. Income tax is an expense to business. It's direct tax. Business pays out of its profit.

Hey friend, thanks for the information and i really appreciate your work. Well, as we know that there is differences between VAT and income tax. BTW, i am uploading a document where you would find those differences, so please download my presentation and check it.