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Just a small correction: as a business, you subtract the VAT on your suppliers’ invoices from the VAT invoiced to your customers. Effectively you remit the taxe
by Discombulator 7y ago
Just a small correction: as a business, you subtract the VAT on your suppliers’ invoices from the VAT invoiced to your customers. Effectively you remit the taxes only on the added value of your business, hence the name. This makes it also harder to avoid taxes. But in the end, the end user pays the tax on the full price, as you say.