augfan77
Member
Cash: $ 4.90
Posts: 21
Joined: 07 Mar 2006
|
| VAT |
 |
|
Could anyone help me to clarify the concept VAT? It is a form of sales tax..am I right? thanks in advance.
Dodge Insurance Frauds
|
Tue Mar 07, 2006 4:38 am |
|
|
coaster
Senior Advisor
Cash: $ 1358.20
Posts: 6687
Joined: 11 Oct 2005
Location: Wisconsin
|
Yes, if it's applied at the point of sales. Depending on how the tax is implemented, it could also be applied at each stage of the process from producer to consumer, at the point where "value is added." Here's a definition from Investopedia:
http://www.investopedia.com/terms/v/valueaddedtax.asp
~Tim~
Eye Candy : Why Whimsy
|
|
Tue Mar 07, 2006 1:31 pm |
|
|
augfan77
Member
Cash: $ 4.90
Posts: 21
Joined: 07 Mar 2006
|
| Vat |
|
|
Thanks coaster. That is an useful one. But dont you think that raises the price level of the commodity product and there is enough scope to evade the tax in terms of the settlement b/n the buyer and the seller?
Dodge Insurance Frauds
|
|
Thu Mar 09, 2006 4:37 am |
|
|
coaster
Senior Advisor
Cash: $ 1358.20
Posts: 6687
Joined: 11 Oct 2005
Location: Wisconsin
|
Yes and maybe. In the case of a private transaction, end use VAT can be easily avoided.
~Tim~
Eye Candy : Why Whimsy
|
|
Thu Mar 09, 2006 1:35 pm |
|
|
discountdomains
New Member
Cash: $ 0.70
Posts: 7
Joined: 04 Oct 2004
Location: Telford UK
|
| VAT |
|
|
Value added tax is a tax on the increase in value of a service or product.
Organisation that are VAT registered can claim back VAT on their purchases or inputs, but have to charge VAT on their sales or outputs.
Its basically a way of having companies collect tax on the value they create.
( Its also a very unpopular Tax in the UK)
Clare
Domain Registration and Finance Articles
|
|
Tue Mar 21, 2006 4:29 pm |
|
|
financechoices
Senior Member
Cash: $ 53.79
Posts: 253
Joined: 04 May 2005
|
VAT is set to bring in around £76bn for the government this year, or 14% of all tax income.
UK Finance Forum | Loans | Credit Cards
|
|
Thu Mar 23, 2006 3:59 pm |
|
|
|
