Accountancy Forum
Difference between VAT and Sales Tax - Printable Version

+- Accountancy Forum (http://www.accountancy.com.pk/forum)
+-- Forum: The Profession (/forumdisplay.php?fid=4)
+--- Forum: Tax (/forumdisplay.php?fid=8)
+--- Thread: Difference between VAT and Sales Tax (/showthread.php?tid=9133)



Difference between VAT and Sales Tax - irananed - 11-11-2010 07:10 PM

Can anybody tell me the major differences between VAT and Sales Tax? From what I have learnt and there is nothing special about VAT. Like Sales Tax, VAT also have two related accounts in chart of accounts i.e. VAT In and VAT out. Any comment?