Value-added tax
Form of consumption tax
Value-added tax ▸ Facts ▸ Comments ▸ News ▸ Videos
A value-added tax is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax, because the consumer who ultimately bears the burden of the tax is not the entity that pays it. Specific goods and services are typically exempted in various jurisdictions.
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![State schools to get boost as private school tax break ends [Video]](https://video.newsserve.net/300/v/20241229/1397328176-State-schools-to-get-boost-as-private-school.jpg) State schools to get boost as private school tax break ends Credit: ODN Duration: 00:54Published | |
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'They will adapt': Starmer insists VAT hike will not force private schools to closeSir Keir Starmer has said there is "no evidence" private schools will be forced to close due to Labour's plans to impose VAT on them.Sky News - Published | |
Bras are a basic necessity that should be exempt from VAT, radiographers sayBras are a basic necessity and should not be subject to VAT, according to radiographers.Sky News - Published | |
Karnataka plans VAT on fuel to fund family health insuranceThe Karnataka government is considering imposing a 50-paisa to Re 1 cess on every litre of petrol and diesel sold in the state to generate funds for a Universal Health Scheme for below-poverty-line..IndiaTimes - Published | |
Centre cut fuel excise duty twice, but opposition states hiked VAT, says FM Nirmala SitharamanFinance minister Nirmala Sitharaman hit out at Opposition-ruled Himachal Pradesh, Punjab and Kerala for increasing VAT on fuel, while arguing that the Centre had reduced excise duty on petrol and..IndiaTimes - Published | |
Uber settles £615m backdated UK VAT bill after legal ruling Uber has revealed a £615m payment to the UK taxman to resolve a legal demand that the company should have charged VAT on fares.Sky News - Published | |
'Nobody expected to be hit with this crisis': Hospitality businesses call for urgent VAT cut Business leaders are calling on the government to urgently cut VAT, as they struggle with increasing costs.Sky News - Published | |
Team Truss accuses Sunak of U-turn on tax pledge after VAT energy cut announcement A row has erupted over whether Rishi Sunak U-turned on his pledge to not cut taxes after announcing he would slash VAT on energy bills.Sky News - Published | |
Maharashtra slashes VAT on petrol, diesel day after Uddhav Thackray slammed Centre's excise cutSitharaman had appealed to the states to reduce VAT on petrol and diesel, to provide more relief to the masses.DNA - Published |
