VAT is Value Added Tax charged on Products and Shipping. But many countries offers VAT exemption to a specific category of citizens and some specific list of products which comes under Tax regimes. e.g. Medical equipments, Equipments for disable customers.
VAT(Value Added Tax) Exempt is very helpful for the store owners from countries which have VAT tax exemption eligibility. e.g. UK, Ireland, Malta, Bahamas etc.
VAT exemption is basically a way of not charging Tax to specific products.
For Store owner:
- Store owner to enable/disable the extension at store level from the configuration
- Store owner to enable or disable the VAT status at individual product level
- Supports the product price including Tax and excluding Tax
- Declaration filled by customers can be viewed on the order detail page in the admin
- Shows a VAT exemption check box on checkout. If a customer selects this checkbox, a VAT declaration appears and a customer can fill this form to claim VAT relief
- If the admin marks a product as VAT exempt, then a customer (guest & registered) can place an order with 0% VAT on that order