What is VAT?

Value Added Tax (VAT) is a consumption tax imposed on the value added to goods and services at each stage of production or distribution. It is a type of indirect tax that is ultimately borne by the end consumer.

VAT plays a crucial role in our economy, providing a stable source of revenue for the government. It is an essential tool for funding public services, infrastructure development, and social programs that benefit society.

By ensuring that VAT is properly understood and adhered to, we can maintain a robust and sustainable tax system that supports our country’s economic growth and societal well-being.