Quote:
Originally Posted by HarryT
Eg, plain digestive biscuits are exempt from VAT as food, but chocolate digestives are not, because putting the chocolate on "adds value", and hence makes them liable for VAT. Similarly oranges are exempt, but squashing the oranges to extract the juice again adds value, so orange juice is subject to VAT.
|
It must be great fun to be a small store owner.
Even greater fun to be a bookkeeper and person responsible for working out how much VAT you are supposed to pay.
I am also sure that this will inspire some very inventive categorization / naming of food products by producers ;-)