Question

what do you mean by value added tax??​

Answer 1

Step-by-step explanation:

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. VAT was introduced on April 1, 2005.

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Answer 2

Answer:

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.