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Flat Rate Scheme
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lightbulbAbout this topic
A Flat Rate Scheme is a simplified tax accounting method allowing businesses to pay a fixed percentage of their turnover as value-added tax (VAT), rather than calculating VAT on individual sales and purchases. This scheme is designed to reduce administrative burdens for small businesses while ensuring compliance with tax regulations.
lightbulbAbout this topic
A Flat Rate Scheme is a simplified tax accounting method allowing businesses to pay a fixed percentage of their turnover as value-added tax (VAT), rather than calculating VAT on individual sales and purchases. This scheme is designed to reduce administrative burdens for small businesses while ensuring compliance with tax regulations.