What Is The Difference Between Vat Vs Sales Tax?
June 10, 2022 ⚊ 1 Min read ⚊ Views 118 ⚊ BUSINESS
What exactly is the distinction between sales tax and value-added tax (VAT)? Both sales tax and VAT are indirect taxes, meaning that they are collected by the seller, who charges the buyer at the time of purchase and then pays or remits the tax to the government on the buyer’s behalf. Sales tax and VAT are frequently used interchangeably in the corporate tax community. To elaborate, consider the similarities and differences between these two types of indirect taxes.
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