Question

What is VAT
Value added tax in business

Answer 1

Value-Added Tax (VAT) is a tax, which is payable on sales of goods or services within the territory of the Member States of the EU. The tax, in all cases, is ultimately payable by the final consumer of the good or service

Answer 2

Value-added-tax is a tax that is assessed incrementally, and is levied on the price of a product.