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The VAT LAW

Updated: Dec 25, 2021

What is VAT?

Value Added Tax (VAT) is a tax on consumption levied at each stage of the supply chain and ultimately borne by the end consumer.

VAT is a transaction-based indirect tax which is levied at each step of the supply chain. End consumers generally bear the VAT cost while registered businesses collect and account for the tax, in a way acting as a tax collector on behalf of the Federal Tax Authority.