WTF is VAT
Pic Whore
Joined: Jul 2004
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From: NJ
value-added tax (VAT), levy imposed on business at all levels of the manufacture and production of a good or service and based on the increase in price, or value, provided by each level. Because the consumer ultimately pays a higher price for the taxed commodity, a VAT is essentially a hidden sales tax. Originally introduced in France (1954), it is now a major part of the tax structure of most Western European nations. In the early 1990s the U.S. government considered instituting a VAT to fund national health care programs.
google ftw
google ftw
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:google: ownz j00
http://en.wikipedia.org/wiki/VAT
http://en.wikipedia.org/wiki/VAT
Value added tax (VAT) is a sales tax levied on the sale of goods and services. In some countries, including Singapore, Australia, New Zealand and Canada, this tax is known as "goods and services tax" or GST. VAT is an indirect tax, in that the tax is collected from someone other than the person who actually bears the cost of the tax (namely the seller rather than the consumer).
Thread Starter
Floppy Death! noES!!!
Joined: Oct 2002
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From: Scranton, PA
Originally Posted by MarshyTheKid
Its Tax. Whats not to get? It goes to the person you're buying from rather than the gov for one reason or another..
edit: that and some places it seems to be optional. I guess you pay it later direct to the govt or ... hell I dont' know. taxes of any kind suck.
Last edited by clickwir; Mar 14, 2006 at 06:36 PM.
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