The Following Statements About VAT Are True Except

question 20

Multiple Choice

The following statements about VAT are true except:

• A) VAT is a means for taxing general consumption.
• B) VAT is a single stage tax.
• C) VAT covers broader services than the RST.
• D) VAT ultimately excludes businesses from taxation.

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Definitions:

Uniform Globally

The idea or principle of maintaining consistency or standardization in practices, regulations, or conditions across different countries or regions worldwide.

Golden Rule

A moral principle that suggests treating others as one would like to be treated.

Interact

To engage or communicate directly with someone or something, often leading to a reciprocal response or action.

Minimum Standards

Regulations or guidelines that establish the lowest acceptable limits or requirements for a specific action, performance, product or outcome.