Quote:
Originally Posted by stumped
that's not actually relevant. Value Added Tax is a European invention , with all the complexity of a byzantine euro-committee design - its not a sales tax per se. there's no direct USA equivalent
A value-added tax (VAT) is a consumption tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale. The amount of VAT that the user pays is on the cost of the product, less any of the costs of materials used in the product that have already been taxed
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VAT isthe same thing as sales tax. The only difference is that VAT is the same for the entire UK unlike the US where sales tax can be different for different states.