The final VAT is the sum of the tax paid at each stage. This system is unlike a sales tax in the United States, which is imposed by states on the final sale of the good. In Europe, VAT rates vary ...

Value added tax (VAT) is payable to the government by a business. VAT is a purchase tax added onto items that are bought, except things that are zero-rated, such as food, because these are deemed ...

Suspects who struck it rich in the VAT refund scam have illegally sent out vast sums of money for investment abroad, ongoing CID investigations have revealed. One suspect, S. Subramaniam, described as ...