A value added tax is an indirect tax imposed on each stage of production process when an input transforms into an output with higher value. For example, a loaf is made from flour and flour from wheat. So, there are two stages of production. First, wheat is converted into flour in a mill and the value of the output increases. A tax is imposed at this stage. At the second stage, bread loaf is made by a baker using flour and another tax is imposed at this stage. Thus instead of imposing one single tax on bread, the tax amount is divided in two phases. This is done primarily to increase tax base, reduce the psychological burden of tax, avoid double taxation and for better tax administration. One may find some simple write ups on different taxes at http://lokkatha.com especially in the section on economics.
by atomswifey 14 years ago
Small Business Encyclopedia:Value-Added TaxA value-added tax (VAT) is a fee that is assessed against businesses by a government at various points in the production of goods or services—usually any time a product is resold or value is added to it. For tax purposes, value is added whenever the value...
by Ron Hooft 13 years ago
Many people say there lives have meaning because a god exists. If no god existed life would be meaningless. So I'd like theists to explain exactly what that added value is. Is there added value by being created by a god as opposed to being the result of a natural process? If you think so, what is...
by Liz Elias 5 years ago
Last night, I made (for the first time ever) baked mac and cheese from scratch. All went okay, until we started to eat, and I realized I had WAY too much flour in the roux. It tasted very floury! It had been so many, many years since I made a roux, that I forgot that it also...
by Donna Cosmato 12 years ago
How will I know what the property taxes will be on my new home?
by Whitney 14 years ago
I have been so lazy today. I had big plans that were actually manageable... Yea, I didn't even get halfway through with them all..I want to work and I want to write, but dangit I just don't want to.Have you ever been in this kind of mood?
by hassann 13 years ago
Don't you hate websites with imposed music?I call it imposed music because it is imposed on you. You enter the site and start hearing some stupid sound you would never get into your ears normally. The button to shut it is nowhere to be found. You have no choice but to close the browser. Don't you...
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