Vat & Corporate Tax
Value-added tax (VAT) is a consumption tax that is levied on the sale of goods and services. It is a tax on the value added at each stage of the supply chain, from the production or import of goods and services to their final sale to the consumer. VAT is typically collected by businesses when they sell goods or services, and it is paid to the government by the business.
Corporate tax is a tax on the income or capital of corporations. It is typically levied on the profits that a corporation earns, and it is usually paid by the corporation itself. The rate of corporate tax varies depending on the country and the type of business, and it may be calculated based on the company’s total income or on a specific portion of its income.
VAT and corporate tax are both important sources of revenue for governments, and they are used to fund public services and infrastructure.
If you have any specific questions about VAT or corporate tax, I would be happy to try to help.
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