What is VAT? How it is going to have impact over me as a common man. Need explanation or links to read?

Answer 1

VAT = Value Added Tax - i.e. Sales Tax. In the UK it is normally included in the advertised price - it's 17.5% for many products.

Maragaret Thatcher raised VAT & cut income tax, to encourage Brits to save money & invest......................In theory.

Answer 2

VAT-value added tax

besides the tax we common people pay the government still add taxes to the things we are buying from the market so that the government can have more money or enough budget for the projects and the things they will do...