What’s the Best Way to Tax Consumers? VAT vs. Sales vs. GRT
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A value-added tax is a tax on each step of the supply chain. For example, if America had a 20% VAT then if you bought iron ore for $60 then how much would you have paid in VAT? $10. And then if you turned your iron ore into a bicycle and sold it to a bicycle shop for $120 then how much would you have collected in VAT?
What’s the Best Way to Tax Consumers? VAT vs. Sales vs. GRT
What’s the Best Way to Tax Consumers? VAT vs…
What’s the Best Way to Tax Consumers? VAT vs. Sales vs. GRT
A value-added tax is a tax on each step of the supply chain. For example, if America had a 20% VAT then if you bought iron ore for $60 then how much would you have paid in VAT? $10. And then if you turned your iron ore into a bicycle and sold it to a bicycle shop for $120 then how much would you have collected in VAT?