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?
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.
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.
VAT's a nice source of income for the government, so it won't be abolished!
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