What is a VAT prefix?

Answer by  spiro (78)

VAT is the tax that is an integral part of the price of any goods or services. This fee is paid only to the newly created value. VAT is calculated and paid only in legal markets while on the black market this fee does not exist.

Answer by  Gus28 (683)

VAT most frequently refers to Value Added Tax. A VAT is used outside the US and Canada and is similar to a sales tax. Many economists feel that the VAT increases government spending and causes higher taxes. Other effects appear to be higher income taxes, slower economic growth, and an added burden on businesses which now become tax collectors.

Answer by  dcin (169)

A VAT is an acronym for the value added tax that is similar to a sales tax except that a tax is applied at each part of its distribution and paid by each business handling the product. It was invented to discourage cheating caused by high sales taxes.

Answer by  Liz59 (10966)

Vat is used on sites such as ebay and it stands for value added tax. You can also go to ebay. ca for more information.

Answer by  matt47 (7)

A VAT prefix is the shortcut for Value Added Tax. For any transaction between two companies a VAT must be paid in most of all countries in the world.