Input and output VAT
Understanding output VAT on sales and input VAT on purchases.
Output VAT
Output VAT is the VAT you charge on your taxable sales. TaxTask calculates this from your sales transactions and applies the correct rate (e.g. 7.5% standard, or zero-rated where applicable).
Input VAT
Input VAT is the VAT you pay on qualifying business purchases. You can offset it against output VAT. We track eligible purchases and include them in your VAT return.