Glossary
Input tax
Input tax is the tax you pay to suppliers on your purchases and costs, which can often be deducted from the tax you collect.
What it means for a shop owner
The deduction usually requires a valid tax invoice in your business name. Rules differ from country to country, so ask your tax office or accountant. Keep every purchase invoice.
A worked example
You buy goods and the invoice carries 50 of tax that you paid the supplier. That 50 is input tax.
Related
Try it in your shop, free, no card.
The free plan: the whole shop for one branch, an offline cashier with stock, debts and accounting, with a daily limit on invoices, expenses and purchase orders. What it includes