Question

VAT is an example of. ​

Answer 1

Value-added tax (VAT) is a type of indirect tax levied on goods and services for value added at every point of production or distribution cycle, starting from raw materials and going all the way to the final retail purchase. Because the consumer bears the entire tax, VAT is also a consumption tax.

Unlike a progressive income tax such as the U.S. system in which higher-income individuals pay a higher percentage in taxes, a VAT is a flat tax: All consumers regardless of income pay the same percentage. Obviously, the 20% VAT in the U.K., for example, cuts deeper into the budget of the person who makes less money.

Answer 2

Answer:

value added tax ka short form hota hai vat

Explanation:

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