Theoretically yes, on the value added in each step, but in practice it's
it's just a paper exercise.
On 10 October 2012 18:07, Bill Pearce <billcpearce@xxxxxxx> wrote:
> But the evil of the VAT is that it is added at every stage of production
> not
> just at the final sale. We do not apply sales tax to things used in
> manufacturing.VAT is added in little pinches that really add up.
>
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