Encyclopedia > Value Added Tax

  Article Content

VAT

Redirected from Value Added Tax

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.



All Wikipedia text is available under the terms of the GNU Free Documentation License

 
  Search Encyclopedia

Search over one million articles, find something about almost anything!
 
 
  
  Featured Article
Sanskrit language

... but with the tongue curled back) (t, th, d, dh, n) Dental (tongue against teeth, like Spanish) (t, th, d, dh, n) Labial (with the lips[?]) (p, ph, b, bh, m) It also ...

 
 
 
This page was created in 28.2 ms