What Is Value-Added Tax (VAT)? - Investopedia
Jun 12, 2024 · What Is a Value-Added Tax (VAT)? The term value-added tax (VAT) refers to a consumption tax on goods and services levied at each stage of the supply chain where value is added. As such, a VAT is ...
Value-added tax - Wikipedia
A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax.
Value-added tax: What is VAT and who has to pay it? - Avalara
Jul 31, 2023 · Value-added tax (VAT) is a broad consumption tax assessed on the value added to goods and services as they move through the supply chain. This includes labor and compensation charges, interest payments, and profits as well as materials.
Value-Added Tax (VAT): What It Is, How It Works | Bankrate
Dec 16, 2021 · What is value-added tax (VAT)? Value-added tax (VAT) is the international alternative to U.S. sales tax and is applied to the sale of goods and services in over 160 countries.
Value-Added Tax (VAT) | Definition, How It Works, and Purpose
Nov 26, 2023 · Businesses collect the tax on behalf of the government: when they buy goods or services, they are charged VAT, and when they sell goods or services, they charge VAT. The idea is to tax the value addition at each transaction stage.
Value-Added Tax: Definition, How VAT Refunds Work - NerdWallet
Jun 4, 2024 · A value-added tax (VAT) is a tax on products or services when sellers add value to them. In some countries, VAT is also called a goods and services tax.
What Is Value-Added Tax and How Is It Calculated? - Bloomberg Tax
May 14, 2024 · VAT is a comprehensive, indirect consumption tax imposed by more than 170 countries on sales or exchanges and imports. In some countries it’s referred to as the “goods and services tax” (GST) and the two terms are broadly interchangeable. VAT is imposed at every stage in the supply chain at rates of up to 27%.
What is a VAT? - Tax Policy Center
What is a VAT? The value-added tax (VAT) is the world’s most common form of consumption tax, in place in more than 160 countries, including every economically advanced nation except the United States.
Value Added Tax (VAT) Definition | TaxEDU Glossary - Tax Foundation
A Value-Added Tax (VAT) is a consumption tax assessed on the value added in each production stage of a good or service. Every business along the value chain receives a tax credit for the VAT already paid. The end consumer does not, making it a tax on final consumption.
What is VAT? Mastering the basics of value-added tax - Avalara
Value-added tax (VAT) is a consumption tax levied on the sale of goods and services in 175 countries, including the U.K. and in the EU. It’s applied to transactions at every stage of a supply chain, from design to manufacturing to consumer sales. Businesses are responsible for charging, collecting, and paying VAT at each stage.