3 ms·
VAT is a sales tax, and you can only subtract the cost of goods sold, not any other expenses. Not being able to subtract the cost of goods sold would be ludicr
by mr_toad 5y ago
VAT is a sales tax, and you can only subtract the cost of goods sold, not any other expenses.
Not being able to subtract the cost of goods sold would be ludicrous and farcical.
- skybrian 5y agoIn the US, sales taxes don’t have any deductions. Some things aren’t taxed, though. It seems like an important difference.