Value-added Tax

<span style="margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 700; font-stretch: inherit; line-height: inherit; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Lato, Helvetica, Arial, sans-serif; vertical-align: baseline;">value-added tax (<span style="margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 700; font-stretch: inherit; line-height: inherit; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Lato, Helvetica, Arial, sans-serif; vertical-align: baseline;">VAT), known in some countries as a <span style="margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 700; font-stretch: inherit; line-height: inherit; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Lato, Helvetica, Arial, sans-serif; vertical-align: baseline;">goods and services tax (<span style="margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 700; font-stretch: inherit; line-height: inherit; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Lato, Helvetica, Arial, sans-serif; vertical-align: baseline;">GST), is a type of <a href="https://en.wikipedia.org/wiki/Tax" title="Tax" style="margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; font-family: -apple-system, BlinkMacSystemFont, "Segoe UI", Roboto, Lato, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(107, 75, 161);">tax</a> that is assessed incrementally. Like an income tax, it is based on the increase in value of a product or service at each stage of production or distribution. However, a VAT tax is collected by the end retailer and is usually a flat tax, and is therefore frequently compared to a sales tax.