Quote:
Originally Posted by Leondros
GST is a VAT. They work the exact same way...
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+1
Shockingly, VATs are collected on the Value
Added to each stage of the product cycle, with every step paying a net VAT on the incremental value
added. The final link in the chain (i.e. consumer) pays the full amount, as there is no further value added.
It's almost like it was appropriately named...
