SOCPA VAT Specialist Practice Questions - SOCPA ZATCA Certified VAT Specialist Exam (Saudi Arabia) Exam

Output VAT collected on taxable sales is typically recorded in the supplier’s books as:

An equity contribution from shareholders A liability owed to the tax authority until remitted A long-term intangible asset A direct reduction of share capital

Correct Answer:

A liability owed to the tax authority until remitted

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