Understanding Value Added Tax (VAT)

What is the standard rate of VAT?

• 10%

• 15%

• 20%

• 25%

What are zero-rated items?

What items are exempt from VAT?

What is the primary purpose of VAT?

• To generate revenue for the government

• To regulate prices

• To encourage exports

• To control inflation

Which of the following items is typically exempt from VAT?

• Luxury goods

• Basic food items

• Electronics

• Clothing