[2][英]Statements of Standard Accounting Practice5:Accounting for Value added Tax.
On UK Accounting Standards for VAT and Its Use for Reference
HUANG Dong-liang
?。ˋccounting College, Zhejiang University of Finance and Economics, Hangzhou 3100012, China)
Abstract: VAT is the most important indirect tax in China. The recognition, measurement and accounting for VAT relates to many accounting issues. Britain is the only country that has set accounting standards for VAT. The author introduces SSAP5 to usand suggests that China set up its accounting standards for VAT.
Key words: Britain; value aded tax (VAT); accounting standards; comparison; use for reference