John Taylor, a tax consultant, charges his clients a fee based on the percentage of...
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Accounting
John Taylor, a tax consultant, charges his clients a fee based on the percentage of the tax he saves a client. John received a payment from a client, but he realised that Angela didn't declare income. Therefore, the income tax return that John's prepared understated income tax liability. 2. Explain the importance of Value Added Tax in a Tax System. Your answer should refer to pros and cons of VAT. (10%)
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