Value Added Tax in the European Union (book)

"Value Added Tax in the European Union" explains how VAT is a consumption tax applied at each stage of the supply chain for goods and services. Businesses charge VAT on their sales and reclaim VAT on their purchases, ensuring the final consumer bears the tax cost. Within the EU, VAT rates and rules vary slightly between countries but follow common principles to facilitate trade. The system promotes neutrality and avoids cascading taxes, fostering a cohesive market. Overall, the book clarifies how VAT functions as a key revenue tool for governments and impacts economic activities across member states.