The ACCA Learning Community
Home
167 online now in this group

Is VAT (value added tax) applicable over MRP (max retail price) of goods

0 Votes
Is VAT (value added tax) applicable over MRP (max retail price) of goods

where an item is priced MRP of $100,
should a customer pay extra vat eg.10% vat equaling $110 to the vendor,
Isn't MRP a VAT inclusive regulated price?

June 7th 2017 AN ACCA USER 8,730 Points

1 Reply

0 Votes

Most of the time MRP is inclusive of VAT, you do not have to pay extra VAT.

January 23rd 2018 AN ACCA USER 260 Points
...