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A value-added tax (vat) is a consumption tax assessed on the value added in each production stage of a good or service. 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 … Learn what value-added tax (vat) is, how it works, and see examples.
What is value-added tax (vat)? 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.
