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Standard VII
Civics
Consumer rights and responsibilities
what is value...
Question
what is value added tax?
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Solution
Value Added Tax (VAT) is an indirect tax that is imposed
on the value added at each stage of production.
VAT is levied on the local production as well as imported goods. It is one of the major sources of tax revenue for the government.
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Value-added tax is ___________.
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Which one of the following is not a feature of “Value Added Tax”?
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77.Which one of the following is not a feature of “Value Added Tax”?
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Consider the following statements:
1. Value-added tax was Introduced for the first time in France.
2. Value-added tax is levied on the added value that results from each exchange.
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Consider the following taxes:
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2. Value-added tax
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Which of the taxes given above are Ad valorem tax/taxes?
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