What is VAT? | Back to Basics

00:01 – What is VAT?
00:30 – How do value-added taxes work?
02:46 – Why VAT?

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[m.s.]

I find it weird that we pay taxes twice. Once when we get paid and then again when we buy stuff.

[junaid]

This video explains VAT brilliantly. Thank you for making.

[KW-gbcd]

3:33 Funding for creating equality? What exactly does that mean?

[maths]

I need to know about Silva credit banking

[wafflygamer]

20%
The standard rate of VAT increased to 20% on 4 January 2011 (from 17.5%). Some things are exempt from VAT, such as postage stamps, financial and property transactions.
...
VAT rates for goods and services.

[exentr]

So, my concernings is. I am a fisherman. I sell my fish to the fish company. The fish company pays me the fish + 10% VAT. But what do I do with VAT? May I spend the VAT money to keep my business running and as a salary or do I save VAT till the tax authorities demand the VAT? Pardon my English

[elrond]

No progressive income tax. Replace that with a flat tax across the board, and a 3-5% tax on INCOME over 5 million. Keep VATs too

[HamguyBacon]

Food should not be taxed at all, In this model the public is paying 40% vat tax on all goods.

[surbon]

I think VAT is needlessly complicated and unfair to the poor and working classes. Except for Switzerland and the Nordic countries, Europeans make much lower salaries than Americans on average. The poor and working classes would get crushed even further in my country, the US, if they had to pay 20% VAT on everything. That's a VERY big bite of what little income some people have!

[WhatDuhAzn]

So is vat artificial inflating prices?

[rushdHBTS]

Most people don't have time to understand VAT. They pay blindly.

[curb_shifter]

now explain inflation as hidden tax, ... aaand go

[TheBraine]

So it's just theft disguised as a good thing like every other tax.

[shoarmik]

I still don't get the argument that without VAT businesses would collect a tax, what tax are we talking about?

[Dorothy_t]

Just when you thought you knew it all, here's important refund information

[ionscorobogaci]

so who pays the VAT, buyer or seller ? still confused

[Jennifer_n]

Binance's CEO opens up about future developments in an exclusive interview

[oo--]

Honestly it’s too high, I wouldn’t be malding if it was 4-10% but 20%, too excessive holy shit.

[mmwaffle.]

Pro tip: give tax breaks to the consumer so everyday people don't pay the bill.
In the US particularly corporations are avoiding taxes like the plague

[kimmanning]

We can do whatever we want. Their sin vat is full.