A value-added tax (VAT)is ________ national tax levied on the value added in the production of a good (or service)as it moves through the various stages of production.

Question

Quizplus · Accepted Answer

A value-added tax (VAT) is an indirect tax because it is not directly paid by the consumer, but rather added to the cost of the good or service as it moves through the production process. It is also not a sales tax, as it is levied on each stage of production, not just the final sale.

A Value-Added Tax (VAT)is ________ National Tax Levied on the Value