Glossary
Value-Added Tax (VAT)
Tags: Glossary
A tax on the value added to a product at each stage of production or distribution.
What is Value-Added Tax (VAT)?
Value-Added Tax (VAT) is a consumption tax assessed on the value added to goods and services at each stage of production or distribution. In the context of shipping, VAT may be assessed on goods imported into a country, or on services provided by shipping companies, logistics providers, or other intermediaries. VAT rates and regulations vary by country and may impact the cost and profitability of shipping operations.
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