Value-added tax is a consumption tax levied at every point in a supply chain—from production to final sale. It’s based on the difference between the cost of production and the selling price of a product or service, or the value added. Sales taxes are different in that they are generally collected only at the final point of sale to the ultimate consumer. Enterprises collect the value-added tax...
Read MoreTopics: Office of Finance, Tax, tax compliance, VAT, Order-to-Cash, Value-Added Tax, Sales Tax
