misk@sopuli.xyz to Europe@feddit.orgEnglish · 2 days agoTrump announces tariffs on EU in retaliation to VATenglish.elpais.comexternal-linkmessage-square20fedilinkarrow-up1102arrow-down12
arrow-up1100arrow-down1external-linkTrump announces tariffs on EU in retaliation to VATenglish.elpais.commisk@sopuli.xyz to Europe@feddit.orgEnglish · 2 days agomessage-square20fedilink
minus-squarebstixlinkfedilinkEnglisharrow-up3·1 day agoThe difference is only in how it is collected. Sales tax is only applied in the final sales, whereas VAT is applied at every step.
minus-squareGissaMittJobb@lemmy.mllinkfedilinkEnglisharrow-up4·1 day agoCollected and subsequently reimbursed, such that VAT is only in effect being paid at the point of the final sale. This is not entirely accurate but it’s accurate enough to be useful for this conversation
The difference is only in how it is collected. Sales tax is only applied in the final sales, whereas VAT is applied at every step.
Collected and subsequently reimbursed, such that VAT is only in effect being paid at the point of the final sale.
This is not entirely accurate but it’s accurate enough to be useful for this conversation