Time Interval: 00:00:01 - 00:02:16
Summary
Overview: Explains how the tax report functions, covering GST (Goods and Services Tax) and VAT (Value Added Tax) calculations for applicable countries.
Global Applicability: Relevant for regions with GST/VAT like South Africa, Australia, New Zealand, and India; not applicable in the US.
Key Components:
- Tax Input Credits: Tracks refunds for development costs and commercial/residential sales.
- Tax Liabilities: Highlights obligations for GST collected during sales periods.
Cost Exclusion: Ensures all financial summaries and cash flow reports exclude GST, showing a “true picture” of profits.
Insights Based on Numbers
Development Costs and Liabilities: Calculates refunds for interim income and obligations for GST collected on sales.
Clear Cashflow Reporting: Separates GST-inclusive obligations from the project’s cash flow for clarity.