3 ms·
> it's also inaccurate in the US, which has no generally applicable VAT) All but four states in the US have a general sales tax
by chimeracoder 9y ago
> it's also inaccurate in the US, which has no generally applicable VAT)
All but four states in the US have a general sales tax
- dragonwriter 9y agoSales tax is not VAT, and even what in the US is called a “general” sales tax applied to a far more limited set of end products than a VAT would usually apply to.
- chimeracoder 9y ago> Sales tax is not VAT From an economic standpoint, yes, a sales tax literally is identical to VAT. The difference is in the point at which the payment is collected; the incidence of the tax is absolutely identical. > even what in the US is called a “general” sales tax applied to a far more limited set of end products than a VAT would usually apply to. That's really not true at all.