Terms Beginning With 'v'

Value-Added Tax (VAT)

  • January 22, 2020
  • Team Kalkine

A value-added tax is a type of tax that is applied when any value is added to the product which includes the production and final stage of the product. Value-Added Tax enables the customer to make payment of the difference between the product cost and the material cost that have already been taxed by the time it reaches the consumer.

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