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Learn what value-added tax (vat) is, how it works, and see examples. Understand vat’s impact on businesses and consumers in this complete guide. A value-added tax (vat) is a consumption tax assessed on the value added in each production stage of a good or service.
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.
