Welcome to the VAT Circus π
Grab your popcorn, because today we’re going to dive into the fascinating world of Partial Exemption. π Imagine a tightrope walker trying to maintain balance among taxable and exempt suppliesβare you intrigued yet? Well, hold on tight! (No trapeze skills required, promise!)
The Spotlight: What is Partial Exemption?
Partial exemption isn’t just an accountant’s nightmareβitβs also a key concept in VAT legislation. In a nutshell, when a business (we lovingly call it a \