Understanding Value-Added Tax (VAT): An Essential Guide
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Understanding Value-Added Tax (VAT): An Essential Guide
Value-added tax (VAT) is collected on a product at every stage of the supply chain where value is added to it, from production to point of sale.
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Did you know that VAT is payable on chocolate-covered biscuits, but not on chocolate-covered cakes (such as Jaffa Cakes)? 🤔 This is just one example of the many complications that arise from VAT... 🤯 Read our tax briefing room piece on VAT in the link below. 👇 taxpayersalliance.com/value_added_tax_briefing | The TaxPayers' Alliance
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