VAT stands for Value Added Tax. It's a consumption tax added to the value of goods and services at each stage of production or distribution. Businesses collect the tax on behalf of the government, and it's ultimately paid by the end consumer. It's also known as Goods and Services Tax (GST) in some countries.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article