UK VAT

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  • UK VAT

    February 25, 2019

    Meaning of VAT Value Added Tax (VAT) is nothing but a general consumption tax that is assessed on the value added to goods & services. It is the indirect tax on the consumption of the goods, paid by its original producers upon the change in goods or upon the transfer of the goods to its ultimate consumers. It is based on the value of the goods, added by thetransferor. It is the tax in relation to the difference of the value added by the transferor and not just a profit.

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