Considering that EVERYTHING we buy has added VAT, what is it that is being paid, on top of the goods' value?
2006-12-04 11:51:45 · 6 answers · asked by rubbercod 2 in Business & Finance ➔ Taxes ➔ United Kingdom
Nuclear rearmourment.
Speed traps...
Wars...
that kind of thing...
2006-12-04 11:58:44 · answer #1 · answered by The Mole 4 · 1⤊ 0⤋
Value Added Tax (VAT) is a tax charged on all taxable supplies made. The tax is collected on imports at the time of importation, while for local supplies, it is collected by VAT registered suppliers on behalf of the revenue authorities. Taxable supplies are defined to include a wide range of business transactions, including importing/exporting, trading, manufacturing, providing professional, entertainment or personal services, provision of electricity, gas or water supplies, and goods/services provided by clubs or societies. Taxable supplies do not include hobby activities, private sales of personal/domestic goods, services provided by an employee to an employer for a wage/salary, and exempt supplies.
2006-12-04 19:58:37 · answer #2 · answered by a m 4 · 2⤊ 0⤋
vat
2006-12-05 05:51:17 · answer #3 · answered by dream theatre 7 · 0⤊ 0⤋
Gordon Brown's pension.
2006-12-04 22:43:05 · answer #4 · answered by Cassandra 3 · 0⤊ 0⤋
Why does your avatar look so angry? And what the heck is VAT?
2006-12-04 19:54:31 · answer #5 · answered by Anonymous · 0⤊ 3⤋
valuised added tax
2006-12-04 19:54:31 · answer #6 · answered by Anonymous · 0⤊ 1⤋