Summary Grade 12 IEB Accounting Notes – VAT (Value-Added Tax)

These are concise and comprehensive notes on VAT (Value-Added Tax), made specifically for Grade 12 IEB Accounting students. They are perfect for exam preparation and understanding key concepts assessed in tests and finals. The notes include: Definition and purpose of VAT VAT registered vendors Input VAT vs Output VAT VAT calculations (inclusive and exclusive amounts) VAT control accounts and how to balance them Common exam questions and how to approach them Worked examples and clear layouts Tips on avoiding common VAT mistakes in Accounting papers Created with the IEB curriculum and exam style in mind, these notes helped me prepare efficiently and understand VAT in a practical and exam-ready way. Ideal for: Grade 12 IEB learners Students needing quick revision before tests or prelims Those who want step-by-step clarity with examples Use these notes to boost your confidence in one of the most tested Accounting topics!