Question
Explain what Value-Added Tax (VAT) means. (2) Explain when (in what circumstances) and why a VAT is likely to be used. (3) Give one example
Explain what "Value-Added Tax" (VAT) means. (2) Explain when (in what circumstances) and why a VAT is likely to be used. (3) Give one example of a VAT, and explain the process through which the VAT is imposed.
Step by Step Solution
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Step: 1
VAT is charged by the central government on the sale of service and good to the consumers ind...
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Economics
Authors: Gregory Mankiw, Mark P. Taylor
5th Edition
1473768543, 978-1473768543
