About Value Added TaxLearn More

Value Added Tax (VAT) is a general tax that is applied to almost all goods and services sold. The simple principle behind a value-added tax is that consumers pay a tax on the products they buy based on the value of the product. In fact, value added tax (VAT) is the same tax that is applied based on the amount of added value at each stage of the production and supply chain of goods and services, from the time of production to the final delivery of the product. That is, with each stage of production and distribution, the value of goods or services increases and value added tax is also applied to it.