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What is VAT Tax?

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Question added by Bilal Ali` , Assistant Manager Accounts & Finance , Ravi Autos (Pvt.) Ltd.
Date Posted: 2015/05/04
Abdirahman maalim Abdullahi
by Abdirahman maalim Abdullahi , CHIEF FINANCE OFFICER , BLAY ENERGY LIMITED

A value-added tax (VAT) or goods and services tax (GST) is a popular way of implementing a consumption tax in Europe, Japan, and many other countries. It differs from the sales tax in that taxes are applied to the difference between the seller-purchased price and the resale price.

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