Understanding the Principles of Value Added Tax
If you operate a business in North America and are looking to expand into international markets you are going to need to become familiar with the concepts and implications of Value Added Tax (VAT).
VAT is the most common form of consumption tax used today, out of the 193 countries around the globe, 166 are currently operating with a VAT as a key part of their tax mix.
Overcoming the various challenges VAT offers doesn’t happen overnight, and as governments all over the world are increasingly focusing on their revenue base, compliance at first instance is vital in the face of more aggressive audits.
This guide will provide you with the necessary base understanding of VAT. It offers some valuable insights and guidance to getting started when you enter a new market that employs a VAT system of taxation and offers expert opinions on when to seek help.