Tax in other countries
Value Added Tax (VAT) is an indirect tax that is added to goods or services. It’s not charged at the retail level but instead applied only anywhere else in the production of goods or services. That means VAT charges are included in what you pay for products like gas, bags of potatoes, groceries, certain types of insurance, and even hotel rooms (it’s computed by overall cost).
Foreigners buying imported products might also get hit with VAT when they get off the airplane at their destination. And yes, that’s frustrating because it makes necessities like food and medicine more expensive.
Also Read,
- What is VAT rate in Northern Emirates?
- Zero Tax Category in the UAE
- VAT in GCC countries
- When was the New Tax Law started in UAE?
- How VAT is calculated?
- What about VAT paid to my suppliers?
- Exempted Categories of goods and services
Tax in other countries