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VAT

VAT, or Value Added Tax, is a tax levied on the sale of goods and services. The difference from conventional sales tax is that every business pays it, and it is calculated as a fraction of the value added by a business to its products. The VAT was invented because very high sales taxes and tariffs encourage cheating and smuggling. The VAT is common in countries of the European Union.



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... Gabor - Wikipedia <<Up     Contents Dennis Gabor Dennis Gabor (Gábor Dénes) (1900-1979) was a Hungarian physicist. He invented holography ...

 
 
 
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