- VAT is a mainstay of France’s fiscal policy, bringing in over half of the country’s tax revenue
- Introduced in 1954 to simplify revenue collection after WWII
- VAT is an ‘invisible’ consumption tax that applies to everyone regardless of income
- VAT is included in the price of anything bought in France or any European country
- VAT is measured and collected by each intermediate business in the production process
- VAT brought in over 176 billion euros in 2023
- VAT was first introduced in France in 1954 and quickly adopted in countries around the world
- VAT is a criteria for countries wanting to join the European Union
- VAT is a regressive tax, applying to all consumers regardless of income levels
Source: rfi.fr
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
