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This course delves into the essentials of VAT calculation and recovery, focusing on the mechanisms behind determining VAT liability and the specifics of reclaiming input VAT. It explains the fundamental principles underlying the computation of VAT payable or repayable by contrasting output VAT on sales with input VAT on purchases. The sessions also address intricate rules regarding situations where input VAT cannot be reclaimed and delve into adjustments for impairment losses, providing a comprehensive understanding of VAT's operational aspects in business transactions.