VAT rates

Value Added Tax (VAT) is a consumption tax applied to the sale of goods and services at each stage of production and distribution. The rate varies by country and sometimes by product type. Standard rates typically range between 15% to 25%, but some items like food, children's clothing, and books may have reduced rates or be exempt. Businesses collect VAT from consumers and pass it to the government, effectively making it a cost borne by the consumer. This tax helps fund public services and government programs.