[kiryandil]

A VAT is a tax on each stage of production. Hence the name; value added.

I'm aware of what a VAT is.

I hang out at an economics forum.

I will point out that a matter of gospel over there is that businesses don't pay taxes - their CUSTOMERS pay the taxes.

[Dead Corpse]

So you are aware that this isn’t a VAT then. Good. Glad we got that cleared up...