What is VAT?


What is VAT?

Governments around the world raise different types of TAX. One of these taxes is VAT – Value Added Tax. Also known as GST – Goods & Services Tax in other countries. The key principle of VAT is that it applies to almost every sale of a service or good. But there is also good news, most businesses can recover the VAT they paid. But, not all businesses, however, realise is that quite a few countries also allow VAT recovery to foreign businesses. Money that was thought to be a cost is actually refundable.

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