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Thread: Vat

  1. #1
    Pillar of the Community margaret's Avatar
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    Question Vat

    My doubtless faulty understanding was always that VAT was a European tax, that is, that it was imposed when we entered the common market as a sales tax. If that is the case, then why are we still paying VAT post Brexit?
    “I doubt sometimes whether a quiet and unagitated life would have suited me - yet I sometimes long for it.”

    - Lord Byron.

  2. #2
    Super Moderator rebbonk's Avatar
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    Default

    Margaret, You are correct in that it was an EEC tax, but we had our own version, purchase tax, that it replaced.
    Of course it'll fit, you just need a bigger hammer.

  3. #3
    Administrator Lex's Avatar
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    VAT's a nice source of income for the government, so it won't be abolished!

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