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A value-added tax (VAT or goods and services tax (GST), general consumption tax (GCT)) is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax .
The European Union value-added tax (or EU VAT) is a value added tax on goods and services within the European Union (EU). The EU's institutions do not collect the tax, but EU member states are each required to adopt in national legislation a value added tax that complies with the EU VAT code. Different rates of VAT apply in different EU member ...
How to avoid it: Only accept/send money through payment methods you trust. When in doubt, turn to PayPal or a credit card. This way, should the worst happen, you have both recourse and peace of mind.
Value added tax is structured as an all-phase tax with input tax deduction. If a taxable person provides a service to another taxable person, the former must pay the VAT on the service; the recipient can reclaim the tax paid as input tax from the Federal Tax Administration (FTA), but must also pay tax on his services to his customer.
eBay announced on Dec. 20 that the online marketplace will be required to collect Social Security numbers -- or Individual Tax Identification numbers -- from all sellers who sell product (over the...
Evaluated receipt settlement (ERS) - ERS is a process of paying for goods and services from a packing slip rather than from a separate invoice document. The payee uses data in the packing slip to apply for the payments.