Let's say a tomato farmer sells tomatoes to Heinz for $10,000; it's a lot of tomatoes. Now, if the U.S. VAT rate was, say, 10%, the tomato farmer would charge Heinz a total of $11,000. That's $10,000 ...

This On The Subject explains how the Mini One Stop Shop (MOSS) system for VAT works and what affected businesses need to do to prepare for Brexit-related changes after the transition period ends. In ...

More than 150 countries have adopted a value-added tax (VAT) as a way to balance their budget. The value-added tax works like a sales tax, but it's applied at every step of the production chain. If a ...

Simply sign up to the Retail sector myFT Digest -- delivered directly to your inbox. In retrospect, we did look a little pathetic. “This is a £2.10 receipt,” said the kindly but bemused lady at the ...

VAT is a consumption tax applied at each production stage, reimbursed from prior stages. Consumers ultimately bear the final VAT cost, impacting lower-income groups ...