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Input tax |
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Input taxWhen a company that is registered for value added tax (VAT), buys goods or services from another supplier, VAT is charged and is currently 17.5% of the purchase cost. This is known as input tax.Similarly, when the company sells its own goods or services it charges its customers VAT at the same rate. This is output tax.Once a quarter, the company has to complete a VAT return, giving details of its input tax and output tax. The difference between output tax and input tax is payable to Customs and Excise. If input tax is greater than output tax the company can claim back money from Customs and Excise.Similar MatchesInput-output tableInput-output tableA table of all inputs and outputs of an economy's industries, including intermediate transactions, primary inputs, and sales to final users. As developed by Wassily Leontief, the table can be used to calculate gross outputs and primary factor inputs needed to produce specified net outputs. Leontief (1954) used this to find the factor content of U.S. trade, generating the Leontief Paradox Input output tablesInput output tablesTables that indicate how much each industry requires of the production of each other industry in order to produce each dollar of its own output. Exchange Price Input Computer codeExchange Price Input Computer codeEPIC codes are the abbreviations given to company share quotations (e.g. the EPIC code for Vodafone is VOD). They serve the same function as 'ticker symbols' in the USA.In the USA, almost any newspaper or web article about a quoted company refers to its ticker symbol, and because of this investors are familiar with them. This makes it very easy for them when they are using websites and need to search for a company.In the UK, EPIC codes have been replaced by Tradable Instrument Display Mnemonic (TIDM) codes. Intermediate inputIntermediate inputAn input to production that has itself been produced and that, unlike capital, is used up in production. As an input it is in contrast to a primary input and as an output it is in contrast to a final good. A very large portion of international trade is in intermediate inputs. Direct Input ProviderDirect Input ProviderEnables companies to deliver price sensitive announcements electronically to the London Stock Exchange's Regulatory News Service via a modem link. Further SuggestionsPrimary inputInput-output Input |
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