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.