Re:G7: Rich nations back deal to tax multinationals
by tomp on Monday June 07, 2021 @06:56AM
(#27421105)
VAT excludes the VAT paid when the company purchased the raw materials, i.e. it's paid net.
The end result is, the consumer pays VAT which is 20% of the price (i.e. 20% of the revenue), and the tax is spread out evenly across the whole production supply chain, weighted by the amount of added value by each company in the chain.
The end result is, the consumer pays VAT which is 20% of the price (i.e. 20% of the revenue), and the tax is spread out evenly across the whole production supply chain, weighted by the amount of added value by each company in the chain.