Business Tax Strategy

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Definitions
Election to Waive Exemption (Option to Tax)
Election to Waive Exemption Option to Tax VAT Tax Exemption Input Tax Value Added Tax Business Tax Strategy
The election to waive exemption, also known as the option to tax, refers to the choice by a taxpayer to charge VAT on supplies that are otherwise exempt. This mechanism allows businesses to reclaim input VAT, which can benefit their cash flow and overall financial performance.
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