[MarkL]

Let's ask our Brit friends how the VAT is doing!

This isn't a VAT tax. It's a retail sales tax, which is only paid at the point of new retail sale. Unlike a VAT, which is paid at every point "value is added." Which means that you pay tax on the taxes already paid.

Mark

[Gorzaloon]

This isn't a VAT tax. It's a retail sales tax, which is only paid at the point of new retail sale. Unlike a VAT, which is paid at every point "value is added." Which means that you pay tax on the taxes already paid.

Yes, I see. I asked a friend about it this morning.

"You want to make a nail:

Iron ore= VAT

Coal=VAT

Pig Iron=VAT

Steel mill/Bessemer converter =VAT

Wire drawing mill=VAT

Nail Factory=VAT

Reseller/repackager=VAT"