VAT around the world

EU countries have the power to set their own rates of VAT within a basic framework set by the EU itself. Some goods and services, including postal services, medical care and betting, are exempt from VAT across the EU.

VAT is broken up into output VAT, which is paid by customers to a business, and input VAT, which is paid by businesses to their suppliers. Countries have the option of introducing input VAT in areas such as land and some financial services, where businesses do not have the option of recovering the money through output VAT.

Via VAT around the world – Telegraph.

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