Sellers must collect Sales Tax unless purchaser provides exemption certificate. Certificate must be completed with name, address, tax ID, business type. Purchaser must certify tax collection authority and property/service nature
291 tax exemptions granted for 10-16 May 2020. Exemptions available for various categories including "Tax Free" and "Tax Free". Exemptions include "Tax Free" and "Tax Free" categories
Standard VAT rate is 22% for all taxable goods and services. Reduced rates range from 10% (food, water, transport) to 4% (books, medical equipment). Zero VAT applies to intra-community and international transport
Partnership is a business where two or more people share ownership and responsibility. Partners receive profits and are liable based on partnership agreement terms. Partners can be individuals, corporations, or other business entities
Tax withholding is deducting income tax from payer's earnings. Most jurisdictions require withholding for employment income. Governments use withholding to combat tax evasion
Local governments impose property tax as primary revenue source. Tax is computed as fair market value multiplied by assessment ratio. Property tax is legally enforceable obligation attached to property. Most states don't impose property taxes, only local governments