Valued Added Tax is an indirect tax which is charged on the supply of goods and services. It is a transaction-based tax on consumption and arises at each stage of the supply chain. A range of goods and services are VAT-exempt. All other goods and services are liable to VAT.
As VAT arises in everyday transactions, it is fundamental to a successful business that they adhere to the relevant VAT compliance reporting requirements. PwC provide advice in dealing with the key VAT issues which a company may face.
