This definition appears somewhat frequently
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Online UK VAT Registration. Value Added Tax Registration service provider in UK, Vat application register online. what is VAT & GST? goods and services tax.
VAT (Value added tax) is a sales tax levied on the sale of goods and services. In some countries this tax is known as goods and services tax or GST. VAT is an indirect tax, in that the tax is collected from someone other than the person who actually bears the cost of the tax.
For example, doctors provide relatively high-cost services for patients, but have low input costs compared to automotive manufacturers. Auto manufacturers must purchase costly inputs such as steel to produce each car. Doctors need equip an office only once to provide their services. The same applies to other service providers, such as attorneys, accountants, and financial service providers. This means the value added (the price of the service.
Value-added tax (VAT) in Vietnam is a broadly based consumption tax assessed on the value added to goods and services arising through the process of production, circulation, and consumption. It's an indirect tax in Vietnam on domestic consumption applied nationwide rather than at different levels such as state, provincial or local taxes. It is a multi-stage tax which is collected at every stage of the production and distribution chain and passed on to the final customer.
The enhancement a company gives its product or service before offering the product to customers. Value added is used to describe instances where a firm takes a product that may be considered a homogeneous product, with few differences (if any) from that of a competitor, and provides potential customers with a feature or add-on that gives it a greater sense of value.