Definition
VAT registration is the process by which a business registers for value-added tax (VAT) with the relevant tax authority in its jurisdiction. Once registered, the business is authorized to collect VAT on its sales of goods and services and may be entitled to reclaim VAT paid on its purchases.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.