Accountancy, asked by crronaldo9707, 1 year ago

Explain Merits and Demerits of VAT.

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Answered by jinalmarkana

Advantages: VAT is simple to administer as compared to other indirect tax. VAT is transparent and has minimum burden to consumers as it is collected in small fragments at various stages of production and distribution. ... VAT minimizes tax evasion due to its catch-up effect.

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