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VAT (1)
VAT (1)

Definition: (British English) A tax that is added to the price of goods and services (abbreviation for 'value added tax').
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* All six elements should be in.


1. Purposeful and necessary.

2. Has a legal backing. That is, allowed by law.

3. Amount (= percentage) is as stated in the relevant statute.

4. Sums will be collected and remitted timely and correctly to the appropriate authority or authorities.

5. Value was had from goods bought/purchased. (To emphasize.)

6. Addition (= tax!) serves purpose(s). That is, receipts are used beneficially by the authority concerned.
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