VAT(value added tax)
It's a tax added to the sales price, and paid by the consumer.
It's not based on profit as claimed earlier, but on the sales price.
You buy an orange for $50
You decide to sell it for $100
Add VAT
Final salesprice:
Denmark $125(25 percent VAT)
Sweden $125(25 percent VAT)
UK $117.5(17.5 percet VAT)
It's a tax added to the sales price, and paid by the consumer.
It's not based on profit as claimed earlier, but on the sales price.
You buy an orange for $50
You decide to sell it for $100
Add VAT
Final salesprice:
Denmark $125(25 percent VAT)
Sweden $125(25 percent VAT)
UK $117.5(17.5 percet VAT)