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To: OL Hickory
Value Added Tax - Wikipedia.

A VAT is added at every stage of production, as a percentage of the "value added" (selling price minus costs) at each stage, and is hidden in the price. A sales tax is only applied when the consumer finally buys the product, and is visible as an add-on to the price.

7 posted on 10/19/2011 7:26:56 PM PDT by AZLiberty (No tag today.)
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To: AZLiberty

Put simply, VAT is a tax on the GDP.


15 posted on 10/19/2011 7:43:02 PM PDT by Christian Engineer Mass (25ish Cambridge MA grad student. Many conservative Christians my age out there? __ Click my name)
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