A value-added tax has gained widespread use in Western Europe, Canada, and parts of Latin America.

Question

Quizplus · Accepted Answer

A value-added tax (VAT) has indeed gained widespread use in Western Europe, Canada, and parts of Latin America. VAT is a type of consumption tax that is added to the price of goods and services at each stage of production and distribution. It is collected by businesses on behalf of the government and ultimately paid by the end consumer. Many countries have adopted VAT as a way to raise revenue and simplify the tax system.

A Value-Added Tax Has Gained Widespread Use in Western Europe