As businesses operate in a global market, it is essential to understand the various tax systems that can impact their operations. While the United States applies a sales and use tax system, Value Added Tax (VAT) or Goods and Services Tax (GST), as it is called in some countries, is a popular form of indirect taxation that exists in over 170 countries. Our previous article discussed the key differences between these two indirect tax systems.
- Both VAT and Sales Tax are consumption taxes, usually collected by businesses
- Concepts of VAT Registration Thresholds and Sales Tax Nexus
- Value Added Tax
- Sales Tax
- Consumer Use Tax – The Reverse Charge Mechanism of Sales Tax?
- Value Added Tax
- Sales Tax
- Exemptions in VAT and Sales Tax
- Value Added Tax
- Sales Tax
- Deemed supplier rules for marketplaces in VAT vs. Marketplace facilitator rules in Sales Tax
- Value Added Tax
- Sales Tax
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Source: Fonoa
