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A value-added tax (VAT) is a consumption tax levied on the value added to goods and services at each stage of production or distribution. Businesses charge VAT on their sales and can deduct the VAT they paid on their purchases, effectively taxing only the value they add. This system allows for tax collection at multiple points in the supply chain, encouraging transparency and reducing tax evasion. Ultimately, the final consumer bears the VAT cost, as businesses pass on the tax in the price of goods and services.

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1mo ago

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What is the prospect of value added tax in Nigeria?"


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James M. Bickley has written: 'Flat tax proposals' -- subject(s): Flat-rate income tax 'Value-added tax as a new revenue source' -- subject(s): Value-added tax 'A value-added tax contrasted with a national sales tax' -- subject(s): Use tax, Value-added tax


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its very simple , instead of attaching fixed taxes upon small valued items, tax is instead value based. this is value added example 10euro x 22%+ total price 12.20


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no! no!


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Value Added Taxvalue added tariffVAT is the abbreviation for "Value added Tax"-------------------------------------- ------ ----------------------------------------------


What does the V in VAT stand for?

Value as in Value Added Tax


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zhaa


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What does vat stand for?

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What is the standard vat?

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